10/21/2004
Everton arranges $3.5 million Private Placement
Everton Resources has arranged a brokered private placement with a syndicate of Agents led by Canaccord Capital Corporation and including Haywood Securities to raise up to $3.5 million.
The Private placement will comprise up to 10,000,000 units at a price if $0.35 per unit. Each unit will consist of one common share and one half one common share purchase warrant. Each whole share purchase will be exercisable into one common share at a price of $0.40 for a period of two years from closing. The agent will be paid a cash fee equal to 7.5 percent of the gross proceeds raised in the offering. The agent will also receive agent warrants entitling it to purchase common shares which is equal to 10.0 percent of the offering at an exercise price of $0.40 for a period of two years.
The Agents may elect to increase the offering to an additional $1,050,000 (3,000,000 units).
The units and the agent warrants will be subject to a hold period of four months plus one day from the closing date. 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 capital.
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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
André Audet
Chairman and CEO
[email protected]
Tel: 613 241-2332 Fax: 613 241 6005
www.evertonresources.com
or
Dwane Brosseau
Manager of Investor Relations
[email protected]
Tel: 604 662 4955 Fax: 604 662 4988
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