Adyton Resources Corporation Closes Private Placement
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES.
ADYTON RESOURCES CORPORATION CLOSES PRIVATE PLACEMENT
Brisbane, Australia – January 25, 2023 – Adyton Resources Corporation (TSX Venture: ADY)
(“Adyton” or the “Company”) is pleased to announce that it has closed its previously announced CAD
$400,000 non-brokered private placement (the “Financing”). The Company raised CAD $400,000 through
the sale of 20,000,000 common shares in the capital of the Company (the “ Shares”) at a price of CAD
$0.02 per Share. The Financing was oversubscribed.
The Company intends to use the net proceeds of the Financing for exploration and development
expenditures on existing mining properties, for due diligence on potential acquisition targets, for a reserve
for potential asset acquisition investigations and for general working capital purposes.
Mayur Resources Limited, a control person of the Company, and certain directors and officers of the
Company participated in the Financing. The participation in the Financing by such insiders constitutes a
related party transaction under Multilateral Instrument 61–101 – Protection of Minority Security Holders
in Special Transactions (“MI 61-101”). The Financing is exempt from the formal valuation and minority
shareholder approval requirements of MI 61-101 as neither the fair market value of the Shares issued to
related parties nor the consideration for such Shares exceeds 25% of the Company’s market capitalization.
A material change report including details with respect to the related party transaction could not be filed
less than 21 days prior to the closing of the Financing as the Company only confirmed the insider
participation shortly before closing and the Company deemed it reasonable in the circumstances to be able
to avail itself of the financing opportunity and to complete the Financing in an expeditious manner.
All the Shares issued pursuant to the Financing are subject to a four-month restricted resale period ending
on May 25, 2023 under Canadian securities laws.
The Financing remains subject to final acceptance by the TSX Venture Exchange.
ON BEHALF OF THE BOARD OF ADYTON RESOURCES CORPORATION
Tim Crossley, Chief Executive Officer
For further information please contact:
Tim Crossley, Chief Executive Officer
E-mail: [email protected]
Phone: +61 7 3854 2389
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ABOUT ADYTON RESOURCES CORPORATION
Adyton Resources Corporation is focused on the development of gold and copper resources in world class
mineral jurisdictions. It currently has a portfolio of highly prospective mineral exploration projects in Papua
New Guinea on which it is exploring for copper and gold. The Company’s mineral exploration projects are
located on the Pacific Ring of Fire which hosts several world class copper and gold deposits.
Adyton was formed by a reverse takeover transaction completed with XIB I Capital Corporation on
February 17, 2021 and commenced trading on the TSX Venture Exchange under the symbol “ADY” on
February 24, 2021.
Adyton is also quoted on the Frankfurt Stock Exchange under the code 701:GR.
For more information about Adyton and its projects, visit www.adytonresources.com.
Neither the 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 press
release.
DISCLAIMER & FORWARD-LOOKING STATEMENTS
This press release may include “forward-looking statements”, including forecasts, estimates, expectations,
and objectives for future operations that are subject to several assumptions, risks, and uncertainties, many
of which are beyond the control of Adyton. Forward looking statements and information can generally be
identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "intend",
"estimate", "anticipate", "believe", "continue", "plans" or similar terminology. The forward-looking
information contained herein is provided for the purpose of assisting readers in understanding
management's current expectations and plans relating to the future. Readers are cautioned that such
information may not be appropriate for other purposes. Forward-looking information are based on
management of the parties' reasonable assumptions, estimates, expectations, analyses and opinions, which
are based on such management's experience and perception of trends, current conditions and expected
developments, and other factors that management believes are relevant and reasonable in the circumstances,
but which may prove to be incorrect. Such factors, among other things, include: impacts arising from the
global disruption caused by the Covid-19 coronavirus outbreak, changes in general macroeconomic
conditions; changes in securities markets; changes in the price of gold or certain other commodities; change
in national and local government, legislation, taxation, controls, regulations and political or economic
developments; risks and hazards associated with the business of mineral exploration, development and
mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures,
cave-ins and flooding); discrepancies between actual and estimated metallurgical recoveries; inability to
obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose
restrictions on mining; employee relations; relationships with and claims by local communities and
indigenous populations; availability of and changes in the costs associated with mining inputs and labour;
the speculative nature of mineral exploration and development (including the risks of obtaining necessary
licenses, permits and approvals from government authorities); and title to properties. Investors are cautioned
that any such statements are not guarantees of future performance and that actual results or developments
may differ materially from those projected in the forward-looking statements. Such forward-looking
information represents management’s best judgment based on information currently available. No forward-
looking statement can be guaranteed, and actual future results may vary materially. Readers are cautioned
not to place undue reliance on forward looking statements or information. Adyton Resources Corporation
undertakes no obligation to update forward-looking information except as required by applicable law.