Aton Resources, Inc. Settles Debt with Shares to Significant Shareholder

VANCOUVER, BC—Aton Resources Inc. (TSX-V:AAN) has successfully settled a substantial debt amounting to CAD$6,314,013.87 with its major shareholder, OU Moonrider, through the issuance of 28,700,063 common shares. This strategic financial move, priced at $0.22 per share, is termed as the "Shares for Debt Transaction".

This transaction is categorized as a "related party transaction" since Moonrider holds a significant control in the corporation. The board of directors reviewed the transaction, exempting Moonrider’s nominee, Tonno Vahk. Despite Aton's challenging financial situation, this maneuver aims to fortify the corporation's financial standing. It adheres to regulatory compliances, with independent directors asserting the transaction's fairness and necessity.

Following this transaction, Moonrider’s ownership in Aton Resources increased from approximately 61.77% to 70.38%. This shift signals a potential influence change in the company’s future direction, with Moonrider possibly modifying its stake based on market conditions. Both firms have disclosed this transaction following regulatory guidelines to maintain transparency with investors and regulatory bodies.

Issued shares are bound by a four-month hold period, emphasizing the transaction's commitment to long-term financial stabilization rather than immediate liquidity. This strategic decision underlines Aton's efforts to navigate financial difficulties while safeguarding its stock value and investor interests in a challenging market.