on Aton Resources, Inc. (isin : CA0496AP2026)
Aton Resources Announces C$10 Million Bridge Loan
Vancouver, BC / ACCESSWIRE / September 13, 2024 / Aton Resources Inc. (TSX-V:AAN) has entered into a new bridge loan agreement with OU Moonrider, a significant shareholder. The loan agreement allows Aton to borrow up to C$10.0 million from Moonrider in a series of advances.
Each advance under the agreement is repayable within twelve months or upon the occurrence of standard events of default. Any funds raised from other debt or equity financings exceeding C$5.0 million will be used to repay the loan. The loan carries an interest rate of 12% per annum, payable on the due date. To date, Aton has drawn down C$4.5 million of the loan.
The unsecured loan will be used for working capital, ongoing exploration, upcoming drilling, and technical studies at the Abu Marawat Concession. This brings Aton's total indebtedness to Moonrider to C$6,811,370.
R. E.
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