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Source: Resource World Magazine
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  • Adyton Resources  (ADY)  has announced a brokered private placement for gross proceeds of up to $4,000,000
  • The company will issue up to 80,000,000 units at a price of $0.05 per unit
  • Net proceeds will be used for exploration activity at the Fergusson Island and Feni Island projects
  • The offering is scheduled to close on or about December 21, 2021
  • Adyton Resources is focused on the development of gold and copper resources
  • Adyton Resources Corporation (ADY) opened trading at C$0.055 per share

Adyton Resources  (ADY)  has announced a brokered private placement for gross proceeds of up to $4,000,000.

The company will issue up to 80,000,000 units at a price of $0.05 per unit. Each unit will include one common share and one common share purchase warrant. Each warrant will entitle the holder to purchase one share at a price of $0.06 for a period of 36 months following the closing of the offering.

The company has granted Eight Capital an over-allotment option to distribute up to an additional 15 per cent of the units at any time within 48 hours prior to the closing of the offering.

Net proceeds will be used for exploration activity at the Fergusson Island and Feni Island projects, and for working capital and general corporate purposes.

The offering is scheduled to close on or about December 21, 2021, and is subject to certain conditions including the receipt of all necessary approvals.

Adyton Resources is focused on the development of gold and copper resources. The company’s portfolio is located in Papua New Guinea’s Pacific Rim of Fire. 

Adyton Resources Corporation (ADY) opened trading at C$0.055 per share.

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