Aton Resources Inc. has closed its non-brokered private placement, raising gross proceeds of CAD$4 million through the issuance of 7,619,048 common shares at CAD$0.525 per share to Xinhai Mining Services Limited.

The funds from the placement will be directed toward exploration and development activities at the Hamama project as well as general and administrative expenses.

In connection with the placement, Aton paid finders' fees consisting of CAD$200,000 in cash and 380,952 finder's warrants to Bright Mega International Limited. Each warrant allows the holder to purchase one common share at CAD$0.525 for a two-year period from closing. All securities issued under the private placement are subject to a four-month hold period expiring on December 13, 2026.

The financing follows Aton's July 29, 2026 announcement of a memorandum of understanding for a strategic cooperation agreement and board nominee with Hongkong Xinhai Mining Services Limited for the Abu Marawat Concession.

Aton holds the Abu Marawat Concession in Egypt's Arabian-Nubian Shield, approximately 200 km north of AngloGold Ashanti's Sukari gold mine. The concession encompasses the Hamama deposit in the west, the Abu Marawat deposit in the northeast, and the Rodruin deposit in the south, alongside the historic Semna and Sir Bakis gold mines.

The Abu Marawat Exploitation Lease is operated through Abu Marawat Gold Mines Ltd, a 50/50 joint venture established with the Egyptian Mineral Resources Authority.

Read the full announcement: Aton Closes CAD$4 Million Private Placement