Core Viewpoint - Adyton Resources Corp. has announced an upsized private placement offering due to strong investor demand, aiming to raise up to $14 million through the sale of 35 million units at $0.40 each, alongside a non-brokered private placement to raise an additional $6 million [1][2]. Group 1: Offering Details - The Offering will consist of up to 35,000,000 units at a price of $0.40 per unit, resulting in gross proceeds of up to $14,000,000 [1]. - Each unit will include one common share and one-half of a common share purchase warrant, with each whole warrant allowing the purchase of one share at $0.60 for 24 months [1]. - A concurrent non-brokered private placement aims to raise up to $6,000,000 by issuing up to 15,000,000 units on the same terms as the Offering [2]. Group 2: Regulatory and Closing Information - The Offering is subject to applicable exemptions from prospectus requirements and is expected to close around August 13, 2025, pending regulatory approvals [3]. - Securities issued will be subject to a statutory hold period of four months plus one day from the closing date [3]. Group 3: Company Overview - Adyton Resources Corp. focuses on developing gold and copper resources in Papua New Guinea, with a portfolio of mineral exploration projects [4]. - The company has indicated resources of 173,000 ounces of gold and inferred resources of 2,000,000 ounces of gold across its projects [5]. - The Feni Island Project has an inferred mineral resource of 60.4 million tonnes at an average grade of 0.75 g/t Au, equating to 1,460,000 ounces of contained gold [6].
Adyton Resources Announces Upsized C$20 Million Financing Comprised of $14 Million Private Placement of Units and Concurrent $6 Million Non-Brokered Private Placement of Units
Globenewswireยท2025-07-24 12:20