Everton Closes a $275,000 Private Placement
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 $275,000 (the “Placement”). The Placement consists of the issuance of1,100,000 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. One insider participated in the private placement for an amount of $ 25,000. The securities issued in connection with the Placement are subject to a four month hold period expiring on October 29, 2010.
The proceeds from the placement will be used to fund the Company’s general working capital.
The securities offered have not been registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or applicable state securities laws, and may not be offered or sold in the United States or to "U.S. persons," as such term is defined in Regulation S promulgated under the U.S. Securities Act, absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
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). 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.
For more information, please contact:
Andre Audet , Chairman and CEO
Gary Economo, Manager, Corporate Communications
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.