December 1, 2004
Everton Resources announces closing of $3,036,950 Private Placement
Everton Resources Inc has closed a brokered private placement with a syndicate of agents led by Canaccord Capital Corporation and including Haywood Securities for gross proceeds of $3,036,950.
The offering consisted of 8,677,000 units at a price of 35 cents per unit. Each unit comprises one common share and one half of one common share purchase warrant. Each whole share purchase will be exercisable into one common share at a price of 40 cents per share until November 30, 2006. The agents received a cash commission equal to 7.5 per cent of the gross proceeds for a total of $227,771.25. The agents also received agent warrants entitling it to purchase 867,700 shares (representing 10% of issued units) at an exercise price of 40 cents per share unit November 30, 2006. Canaccord Capital Corporation also receives 200,000 corporate finance shares.
The units and the agent warrants will be subject to a four month hold period expiring March 31, 2005. The gross proceeds from the sale of the units shall be used for gold and base metal exploration on the company’s projects and working captial.
FORWARD-LOOKING STATEMENTS: This news release contains certain "forward-looking statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Except for statements of historical fact relating to the company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. The Company’s Shares are listed on the TSX Venture Exchange and trade under the symbol “EVR”.
For more information, please contact
Andre Audet- Chairman and CEO
Tel: 613 241-2332 Fax: 613 241 6005