Aston Bay Holdings Announces Non-Brokered Private Placement
September 10 2013 - 8:58AM
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Vancouver, British Columbia - September 10, 2013 - Aston Bay Holdings Ltd. (TSX-V:
BAY) ("Aston Bay" or the "Company") today announced
that it will conduct a non-brokered private
placement (the "Offering") of up to 1,000,000 units of Aston Bay
(the "NFT Units") at a price of $0.20 per NFT Unit and up to
400,000 common shares (the "FT Shares") issued on a "flow-through"
basis at a price of $0.25 per FT Share, for aggregate gross
proceeds of up to $300,000. Each NFT Unit consists of one common
share of the Company and one-half of a warrant, each whole warrant
entitling the holder to acquire an additional common share at an
exercise price of $0.40 for a period of 12 months from the
completion of the offering.
The
Company anticipates that some current insiders of the Company will
participate in the Offering. Finder's fees in
amounts yet to be determined may be paid to persons who introduce
the Company to investors.
Proceeds
of this Offering will be used for advancing the Storm Copper and
Seal Zinc Projects, and for general corporate purposes.
Shares
acquired by the placees, and shares which may be acquired upon the
exercise of the share purchase warrants, will be subject to a hold
period of four months plus one day from the date of completion of
the financing, in accordance with applicable securities
legislation.
About
Aston Bay Holdings
Aston Bay Holdings Ltd.
(TSX-V: BAY) is a publicly traded mineral exploration company
focused on the 345,033 acre Storm Property located on northwest
Somerset Island, Nunavut. The property hosts the Storm Copper and
Seal Zinc prospects. Aston Bay holds the right to earn or buy up to
a 100% undivided interest in the Storm Property from Commander
Resources Ltd. (TSX-V: CMD).
On behalf of the Board
of Directors,
Benjamin Cox, Chief
Executive Officer
Telephone: (360)
262-6969
For
further information about Aston Bay Holdings Ltd. or this news
release, please visit our website at www.astonbayholdings.com.
Neither the TSX Venture Exchange Inc. 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
news release contains certain statements that may be deemed
"forward-looking statements". Forward-looking statements are
statements that are not historical facts and are generally, but not
always, identified by the words "expects", "plans", "anticipates",
"believes", "intends", "estimates", "projects", "potential" and
similar expressions, or that events or conditions "will", "would",
"may", "could" or "should" occur. Although the Company 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 may differ materially from
those in forward-looking statements. Forward-looking statements are
based on the beliefs, estimates and opinions of the Company's
management on the date the statements are made. Except as required
by law, the Company undertakes no obligation to update these
forward-looking statements in the event that management's beliefs,
estimates or opinions, or other factors, should change.
THIS
PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR
DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A
SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED
HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND
WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF
1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE
OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS
REGISTERED OR EXEMPT THEREFROM.
THIS PRESS RELEASE
IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS
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