Adyton Resources Announces $4 Million Brokered Private Placement
Adyton Resources Corporation () has entered into a letter engagement with Eight Capital, to offer for sale up to 80 million units of the company at $0.05 each, on a private placement basis, for aggregate gross proceeds of up to $4 million.
Each unit will be comprised of one common share and one common share purchase warrant. Each warrant will entitle the holder to purchase one share at an exercise price of $0.06 each, for 36 months following the offering's close (about Dec 21.)
Adyton intends to use the net proceeds for exploration activity at the Fergusson Island and Feni Island projects, and for working capital and general corporate purposes.