Aben Resources Closes Private Placement
September 18, 2020 at 18:00 PM EDT
VANCOUVER, British Columbia, Sept. 18, 2020 (GLOBE NEWSWIRE) -- Aben Resources Ltd. (TSX-V: ABN) (OTCBB: ABNAF) (Frankfurt: E2L2) (the “Aben or the Company”) is pleased to announce it has closed a non-brokered private placement financing for total gross proceeds of CAD $153,499.94 (the “Placement”).
The Company has allotted and issued 1,395,454 units (the “Units”) at a price of CAD $0.11 per Unit. Each Unit is comprised of one common share and one transferable warrant (the “Warrants”). Each Warrant will entitle the holder to purchase one additional common share for a period of two (2) years at a price of CAD $0.15 per share.
In addition, the Company has paid finder’s fees of $1,540 and issued 14,000 finder’s warrants (the “Finders Warrants”) to an arm’s-length party. Each Finders Warrant is exercisable into one common share for a period of up to two (2) years at a price of CAD $0.15 per share.
The Company intends to use the proceeds from the Placement towards general working capital purposes. All securities issued under the Placement will be subject to a four-month and one-day hold period expiring January 19, 2021. The Placement remains subject to the final approval of the TSX Venture Exchange.
About Aben Resources:
Aben Resources is a Canadian gold exploration company developing gold-focused projects in British Columbia and the Yukon Territory. Aben is a well-funded junior exploration company.
ABEN RESOURCES LTD.
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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.