Adyton closes private placements for $20-million

Executive Summary

• Adyton Resources Corp. closed an oversubscribed C$20 million financing composed of a C$14 million brokered private placement (35 M units at $0.40/unit) and a concurrent C$6 million non‑brokered private placement (15 M units at the same price).
• Each unit includes one common share and half of a common‑share purchase warrant exercisable at $0.60 per share for 24 months; lead agents received cash commissions (6.5% of gross proceeds) plus 2,275,000 non‑transferable compensation options.
• Proceeds are earmarked to advance exploration and development activities on Adyton’s PNG projects, including the Feni Island gold‑copper project.

Key Details

• Brokered Private Placement
• Gross proceeds: C$14 million
• Units sold: 35 million at $0.40 per unit
• Unit composition: 1 common share + ½ warrant (exercise price $0.60, 24‑month term)
• Agents: Clarus Securities Inc. and PowerOne Capital Markets Ltd.
• Lead‑agent cash commission: 6.5% of gross proceeds

• Compensation options issued to agents: 2,275,000 non‑transferable options (each for one unit at $0.40, 24‑month term)

• Non‑Brokered Private Placement

• Gross proceeds: C$6 million
• Units sold: 15 million at $0.40 per unit (same terms as brokered units)

• No finders’ fees paid

• Related‑Party Participation

• Chairman Sinton Spence and Independent Director Michael Gray subscribed for a total of 1,225,775 units

• Transaction qualifies for MI 61‑101 exemptions; no formal valuation or minority approval required (insider consideration < 25% market cap)

• Statutory Hold Period

• All units subject to a four‑month plus one day hold period from closing date

• Use of Proceeds

• Primarily to fund exploration and development of PNG projects, notably the Feni Island gold‑copper project

• Company Overview (retained for context)

• Portfolio includes indicated resources of 173,000 oz Au and inferred resources of 2 M oz Au across PNG
• Feni Island: Inferred resource of 60.4 Mt @ 0.75 g/t Au (1.46 M oz Au)
• Fergusson Island: Indicated 4.0 Mt @ 1.33 g/t Au (173,000 oz Au); inferred 16.3 Mt @ 1.02 g/t Au (540,000 oz Au)

Notable Quotes

No direct quotes were provided in the release.