4/13/2006
EVERTON CLOSES $1.5 MILLION FINANCING WITH ROBERT McEWEN
Everton Resources Inc. (TSX-V – EVR) (“Everton”) is pleased to announce the
closing of the $1.5 million private placement with Rob McEwen.
The offering consisted of 3,000,000 units at a price of $0.50 per unit. Each
unit consists of one common share and one common share purchase warrant, each
warrant entitling the holder thereof to purchase one additional common share at
a price of $0.70 per share for a period of 18 months from the closing. However,
should the weighted-average price of Everton’s shares on the TSX Venture
Exchange be equal or greater to $1.20 for a period of 20 consecutive trading
days following the expiry of the applicable four month resale restriction, the
warrants will expire within a period of 30 days following the receipt by Mr.
McEwen of a written notice from Everton.
The net proceeds of this offering will be used to accelerate Everton’s
exploration programs in Quebec and the Dominican Republic.
‘‘We are very pleased to have Rob McEwen as a major investor’’ said André Audet,
Chairman and Chief Executive Officer of Everton.
Mr. McEwen will hold approximately 7.7 per cent of the outstanding common shares
of Everton (before exercise of the warrants). Assuming the exercise of all of
the warrants, Mr. McEwen will hold approximately 14.2 per cent of the
outstanding shares.
The securities are subject to a hold period and may not be traded until August
12, 2006, except as permitted by applicable securities legislation and the
policies of the TSX Venture Exchange.
Everton is a well-funded mineral exploration company actively exploring for gold
and base metals in Quebec and the Dominican Republic.
The TSX Venture Exchange neither approves nor disapproves of the information contained
in this News 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 & CEO
Tel: 613 241 2332
Fax: 613 241 6005
Email address: [email protected]
www.evertonresources.com
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