Vancouver, BC -- Aben Resources Ltd. (TSX-V: ABN) (OTCBB: ABNAF) (Frankfurt: E2L2) (the "Company") is pleased to announce, further to its News Releases on December 18th, and 19th, the closing of its non-brokered flow-through private placement for the aggregate of CAD $563,125.00.
The Financing consisted of 3,754,167 Flow-Through Units at a price of CAD $0.15 per Flow-Through Unit. Each Flow-Through Unit purchased included one flow-through share as well as one common share purchase warrant ("Warrant"). Each Warrant will entitle the holder to purchase one additional non-flow-through common share for one (1) year at a price of CAD $0.20 per common share.
In connection with the financing, Aben issued a total of 125,265 warrants to finders (the "Finder Warrants") who introduced certain subscribers to the private placement. Each Finder Warrant will entitle the finder to purchase one additional common share for one (1) year at a price of CAD $0.20 per common share. The Company also paid to finders a total of CAD $18,789.75 in cash fees associated with this financing.
Shares issued in connection with this private placement and any shares issued as a result of exercise of warrants will be subject to a hold period expiring April 30, 2018.
The Company intends to utilize the proceeds from the private placement for an upcoming 2018 exploration and drilling program at its Chico Gold Project in Saskatchewan.
Chico Gold Project, Saskatchewan location map:
About Aben Resources:
Aben Resources is a Canadian gold exploration company developing projects in British Columbia's Golden Triangle, Saskatchewan and the Yukon.
For further information on Aben Resources Ltd. (TSX-V: ABN), visit our Company's web site at www.abenresources.com.
Aben Resources has approx. 63.7 million shares issued and outstanding.
ABEN RESOURCES LTD.
JAMES G. PETTIT
President & CEO
For further information contact myself or:
Aben Resources Ltd.
Director, Investor Relations
Toll Free: 800-567-8181
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.