VANCOUVER, British Columbia, Nov. 01, 2016 - Aben Resources Ltd. (TSX-V:ABN) (OTCBB:ABNAF) (Frankfurt:E2L2) (the “Company”) is pleased to announce that it completed today its previously announced non-brokered private placement of units ("Units") for gross proceeds of $700,000 (the "Offering").
Pursuant to the Offering, the Company issued 9,333,333 Units at $0.075 per Unit. Each Unit consists of one Common Share and one non-transferrable Share Purchase Warrant (a "Warrant"). Each Warrant entitles the holder to acquire one additional Common Share at an exercise price of $0.10 per warrant exercised for a period of two years expiring November 2, 2018.
In connection with the Offering, the Company paid $15,715 in cash finder's fees and issued 209,533 finder's warrants (“Finder’s Warrants”) to qualified arm's length finders. Each Finder's Warrant entitles the holder to acquire one additional Unit at an exercise price of $0.10 for a period of two years expiring November 2, 2018.
The Company intends to utilize the proceeds from the Offering for further exploration on its Forrest Kerr Gold Project located in B.C.’s Golden Triangle region, new property evaluation and for general working capital purposes.
The securities issued pursuant to the Offering and any shares issuable upon exercise of warrants will be subject to a statutory four month and one day hold period expiring March 3, 2017.
About Aben Resources:
Aben Resources Ltd. is a Canadian gold exploration company developing projects in British Columbia, the Yukon and North West Territories.
Source: Aben Resources
