Everton Announces the Closing of the 2nd Tranche of its Non-brokered Private Placement of $425,000
Ottawa, Ontario - (July 15, 2016) - Everton Resources Inc. (“Everton” or the “Corporation”) (TSX-V:EVR) announces the closing of the 2nd tranche of its non-brokered private placement by issuing 6,100,000 flow through common shares at a price of $0.05 per share of the Corporation for gross proceeds of $305,000.
The Corporation has also issued 2,400,000 units of the Corporation for gross proceeds of $120,000. Each Unit consisted of one common share (the “Common Share”) of the Corporation at a price of $0.05 per Common Share and one-half common share purchase warrant (the “Warrant”). Each whole Warrant entitles the holder thereof to acquire one additional common share in the capital of the Corporation at a price of $0.07 per common share for a period of twenty-four (24) months. Of this amount, SIDEX participated for $100,000 under its Field-Action 2016 program. The proceeds will be used for basic exploration on targets defined in Abitibi in the general Casa Berardi area on the Detour Lake property.
An insider participated in the private placement for a total of $20,000.
All securities issued in the private placement are subject to a four-month hold period expiring on November 15, 2016. The proceeds of the financing will be used to advance exploration work in Quebec and Ontario. The private placement is subject to receipt of applicable regulatory approvals including acceptance of the TSX Venture Exchange (TSX-V).
About Everton Resources Inc.
Everton is an exploration company with concessions in the Dominican Republic adjacent to the Pueblo Viejo Mine, owned by the world’s two largest gold mining companies, Barrick Gold Corporation (60%) in partnership with Goldcorp Inc. (40%) ("Goldcorp"). Everton also holds an interest in the Opinaca region of James Bay, Quebec where the Company has partnered with Hecla Mining Company which is advancing Everton's interest in the Opinaca B project by funding 100% of all exploration work on one of the largest land packages adjacent to Goldcorp's Eleonore gold deposit. Everton recently announced the acquisition of two properties: the Blue Sky Jackpot lithium property in Ontario and the Detour Lake gold property in Quebec.
The Diversification of Exploration Investment Partnership (SIDEX Limited Partnership) was established in 2001 by the Government of Québec and the Fonds de solidarité FTQ. The mission of SIDEX is to invest in mineral exploration companies working in Québec to diversify Québec’s mineral base. SIDEX encourages companies to explore for new commodities, to use new metallogenic models and to open new territories. SIDEX also helps to promote entrepreneurship and innovation.
For further information on Everton Resources Inc., please visit
Everton Resources Inc.
Chairman and CEO
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.