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Everton Resources Inc. (TSX VENTURE:EVR - News; FRANKFURT:ERV - News) is pleased to announce
the closing of the second tranche of a non-brokered private placement (the
"Placement") for gross proceeds of $220,000 (partially completed
and announced in news release of November 2, 2010). The Placement consists of
the issuance of 880,000 units at a price of $0.25 per unit (the
"Units"). Each Unit is comprised of one common share and one-half
of one common share purchase 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. Two insiders participated in
this private placement for an amount of $20,000.
In connection with the Placement, the
Company paid a cash finder's fee to eligible parties totalling
$16,000 and issued, as additional consideration, 64,000 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 continue drilling several gold-copper targets on Ampliacion
Pueblo Viejo project in the Dominican Republic.
Everton is partnered with Brigus Gold on actively exploring in the Dominican
Republic adjacent to the US$3.0 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). Planned divestiture of its
100%-owned subsidiary Hays Lake Gold containing the Shoal Lake Gold Project
in Kenora, Ontario is expected to provide internal
funding to advance the Ampliacion Pueblo Viejo
project. Everton also holds an interest in the Opinaca
region of James Bay, Quebec where the Company has partnered with Aurizon Mines Ltd. who is advancing Everton's interest by
funding 100% of all exploration work on one of the largest land packages
adjacent to Goldcorp's Eleonore gold deposit.
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.
Contact:
Andre Audet
Everton Resources Inc.
Chairman and CEO
613-241-2332
613-241-8632 (FAX)
andre@evertonresources.com |
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