Everton Resources Inc. Closes $255,000 Private Placement
VANCOUVER, BRITISH COLUMBIA--Everton Resources Inc. (EVR.TSXV) ("Everton") is pleased to announce that it has closed a non-brokered private placement for 1,275,000 units at $0.20 for gross proceeds of $255,000. Each unit consists of one common share at a price $0.20 and one share purchase warrant exercisable at a price of $0.25 for a period of 2 years. The placement is subject to a four-month hold period expiring on October 3, 2003.
Andre Audet, a director of Everton has subscribed for 75,000 units for total proceeds of $15,000. A corporation controlled by Ron Little, also a director of Everton, has subscribed for 50,000 units for total proceeds of $10,000. The Board of Directors for Everton has approved these subscriptions, and Messrs. Audet and Little abstained from voting on same. Everton is closing the subscriptions with Messrs. Audet and Little immediately and will be using the funds for trenching and drilling of the Bayaguana property in the Dominican Republic and for general working capital.
Everton Resources Inc. is a gold exploration company focused on large deposit type targets in the Dominican Republic.
On Behalf of EVERTON RESOURCES INC.
Dwane Brosseau, President and "CEO"
The common shares and warrants described herein and any securities which may be issued thereunder have not been and will not be registered under the U.S. Securities Act of 1933 as amended and may not be offered or sold in the U.S. or to a U.S. person in the absence of such
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