Aton Provides Update ON Placement and Consolidation
ATON PROVIDES UPDATE ON PLACEMENT AND CONSOLIDATION
Not for distribution to United States newswire services or for dissemination in the United States
FOR IMMEDIATE RELEASE
Vancouver, September 2, 2020 : Aton Resources Inc. (AAN: TSX-V) (“Aton” or the “ Company") announces
further to its news release of July 29, 2020 that it is proceeding with its previously announced 10:1 share
consolidation, and will be rescheduling the closi ng of its placement announced July 29, 2020 to a date after
the consolidation has been completed.
The Company anticipates the consolidation will take place in approximately mid-September, subject to receipt
of TSX Venture approval. The Company will provide a further update once the effective date of the
consolidation has been determined.
After giving effect to the consolidation, t he placement is a non-brokered private placement of up to $5- million
through the issuance of up to 12.5 million units of the company at a price of $0.40 per unit. Each unit consists
of one common share of the company and one- half of a share purchase warrant, each entitling the holder to
acquire an additional common share of the company for a period of two years from closing at a price of $0.80
cents per warrant share. The net proceeds from the placement will be used to finance continued exploration
and development activities at Aton's Abu Marawat concession, located in Egypt, and for general corporate
purposes. For further information respecting the placement, please see the Company’s July 29, 2020 news
release.
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About Aton Resources Inc.
Aton Resources Inc. (AAN: TSX-V) is focused on its 100%
owned Abu Marawat Concession (“Abu Marawat”),
located in Egyp t’s Arabian-Nubian Shield, approximately
200 km north of Centamin’s world-class Sukari gold mine.
Aton has identified numerous gold and base metal
exploration targets at Abu Marawat, including the
Hamama deposit in the west, the Abu Marawat deposit in
the northeast, and the advanced Rodruin exploration
prospect in the south of the Concession. Two historic
British gold mines are also located on the Concession at
Sir Bakis and Semna. Aton has identified several distinct
geological trends within Abu Marawat, w hich display
potential for the development of a variety of styles of
precious and base metal mineralisation. Abu Marawat is
447.7 km2 in size and is located in an area of excellent
infrastructure; a four -lane highway, a 220kV power line,
and a water pipeli ne are in close proximity, as are the
international airports at Hurghada and Luxor.
For further information regarding Aton Resources Inc.,
please visit us at www.atonresources.com or contact:
MARK CAMPBELL
President and Chief Executive Officer
Tel: +202-27356548
Email: [email protected]
Note Regarding Forward-Looking Statements
Some of the statements contained in this release are forward-looking statements. Since forward-looking statements
address future events and conditions; by their very nature they involve inherent risks and uncertainties. Actual results
in each case could differ materially from those currently anticipated in such statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of
any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the
securities in the United States of America. The securities have not been and will not be registered under the United
States Securities Act of 1933 (the “1933 Act”) or any state securities laws and may not be offered or sold within the
United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless
registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements
is available.