10/25/2004
Everton arranges $3.5 million Private Placement - Amended Release
(AMENDED RELEASE)
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.
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.
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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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