Everton Closes a $3,117,500 Private Placement
NOT FOR DISSEMINATION IN THE UNITED
STATES OR FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES
Everton Resources Inc. (TSX-V: EVR, Frankfurt: ERV) Everton is pleased to announce the closing of a non-brokered private placement for gross proceeds of $3,117,500 (the “Placement”). The Placement consists of the issuance of12,470,000 units at a price of $0.25 per unit (the “Unit”). Each Unit is comprised of one common share and one-half of a warrant. Each whole warrant entitles the holder to purchase an additional common share at a price of $0.40 for a period of twenty-four months following the closing date.
In connection with the Placement, the Company paid a cash finder’s fee to certain eligible parties totalling $229,800 and issued , as additional consideration, 919,200 non-transferable warrants entitling the holder to acquire the same number of common shares of the Company at a price of $0.25 per common share for a period of twenty-four (24) months following the closing date. The securities issued in connection with the Placement are subject to a four month hold period.
The proceeds from the placement will be used to advance the Company’s exploration activities in the Dominican Republic.
The offered securities will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements. This news release shall not constitute an offer to sell or an offer to buy the offered securities in any jurisdiction.
Everton is actively exploring in the Dominican Republic adjacent to the US$2.7 billion Pueblo Viejo project, currently being developed by the world's largest gold mining company, Barrick Gold Corporation (60%) (NYSE/TSX: ABX) in partnership with Goldcorp (40%) ("Goldcorp") (NYSE: GG, TSX: G). Pueblo Viejo is estimated to contain 22.4 million ounces of gold, 455 million pounds of copper and 131.3 million ounces of silver. Everton also holds through its 100%-owned subsidiary Hays Lake Gold various options consolidated land package located in the Shoal Lake area, near Kenora, Ontario. The Shoal Lake Gold Project is comprised of two significant high grade gold deposits: Duport and Cedar Island on 81.3 km2. The Company is also exploring in the Opinaca region of James Bay, Quebec where the Company has amassed one of the largest land claims adjacent to Goldcorp's Eleonore gold deposit, which currently hosts an estimated total mineral resource of 9.4 million ounces of gold.
For more information, please contact:
Andre Audet, Chairman and CEO
This news release contains certain forward-looking statements that involve risks and uncertainties, such as statements of Everton’s plans, objectives, strategies, expectations and intentions. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to Everton, or its management, are intended to identify such forward-looking statements. Many factors could cause Everton’s actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. The forward-looking statements included in this press release represent Everton’s views as of the date of the release. While Everton anticipates that subsequent events and developments may cause its views to change, it specifically disclaims any obligation to update these forward-looking statements. All subsequent written and oral forward-looking statements attributable to Everton or persons acting on its behalf are expressly qualified in their entirety by this notice.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.