Adyton Resources Announces C$10 Million Private Placement of Units

Core Viewpoint - Adyton Resources Corp. has announced a brokered private placement to raise up to C$12 million for exploration and corporate purposes, with a focus on its mineral properties in Papua New Guinea [1][2][3]. Group 1: Offering Details - The company will issue up to 25,000,000 units at a price of $0.40 per unit, potentially raising aggregate gross proceeds of up to $10 million [1][2]. - An Over-Allotment Option allows for an additional 5,000,000 units to be offered, increasing total gross proceeds to approximately C$12 million if fully exercised [2]. - Each unit consists of one common share and one-half of a common share purchase warrant, with each warrant allowing the purchase of one share at $0.60 for 24 months [2]. Group 2: Use of Proceeds - Net proceeds from the offering will be allocated to the exploration and advancement of the company's mineral properties, as well as for general working capital and corporate purposes [3]. Group 3: Company Overview - Adyton Resources Corp. is focused on developing gold and copper resources in Papua New Guinea, with a portfolio of mineral exploration projects [5]. - The company has a total mineral resource estimate of 173,000 ounces of indicated gold and 2,000,000 ounces of inferred gold within its projects [6]. - The Feni Island Project has an inferred mineral resource of 1,460,000 ounces of gold, while the Fergusson Island Project has indicated and inferred resources totaling 173,000 ounces and 540,000 ounces of gold, respectively [7][8].