Non-brokered offering sells 5 million flow-through shares, 379 units
By Devika Patel
Knoxville, Tenn., March 7 - Everton Resources Inc. said it raised C$1.38 million in a non-brokered private placement of stock and units.
The company sold 5 million flow-through common shares at C$0.20 apiece and 379 units of 5,000 common shares and 5,000 warrants at C$1,000.00 per unit. Each warrant is exercisable at C$0.35 for two years.
The price per share is identical to the March 6 closing share price. The warrant strike price is a 75% premium to that price.
President and chief executive officer Andre Audet bought 120 units for C$120,000.
PowerOne Capital Markets Ltd. and Euro Pacific Canada Inc. were paid finder's fees.
Proceeds will be used for exploration, advancement of the company's properties in the Dominican Republic and working capital.
Everton is a resource exploration company based in Ottawa, Ont.
| Issuer: | Everton Resources Inc.
|
| Issue: | Flow-through common shares, units of 5,000 common shares and 5,000 warrants
|
| Amount: | C$1,379,000
|
| Agent: | Non-brokered
|
| Investor: | Andre Audet (for C$120,000)
|
| Settlement date: | March 7
|
| Stock symbol: | TSX Venture: EVR
|
| Stock price: | C$0.20 at close March 6
|
| Market capitalization: | C$6.5 million
|
|
|
| Shares
|
| Amount: | C$1 million
|
| Shares: | 5 million
|
| Price: | C$0.20
|
| Warrants: | No
|
|
|
| Units
|
| Amount: | C$379,000
|
| Units: | 379
|
| Price: | C$1,000.00
|
| Warrants: | 5,000 warrants per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.35
|
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