The Financing consisted of 2,356,443 units (the "Units") at a price of CAD $0.135 per Unit for combined total gross proceeds of CAD $318,119. Each Unit purchased will include one common share as well as one common share purchase warrant ("Warrant"). Each whole Warrant will entitle the holder to purchase one additional common share for five (5) years at a price of CAD $0.18 per common share.
In connection with the financing, Aben issued a total of 15,555 warrants to finders (the "Finder's Warrants") who introduced certain subscribers to the private placement. Each Finder's Warrant will entitle the finder to purchase one additional common share for two (2) years at a price of CAD $0.18 per common share. The Company also paid to finders a total of CAD $2,100 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 December 22, 2017.
Aben is currently drilling a 2,100m drill program on its flagship property, Forest Kerr. The 23,000-hectare Forrest Kerr Gold Property is located in North Western British Columbia's Golden Triangle region. Drilling conducted in the early 1990's and 2000's at these zones returned some of the highest grades on the Forrest Kerr Property and the Company feels there is the potential for the expansion of these known zones based on recent data compilation, structural geological interpretation and additional field reconnaissance work.
About Aben Resources:
Aben Resources is a Canadian gold exploration company developing projects in British Columbia's Golden Triangle, the Yukon, and Saskatchewan.
For further information on Aben Resources Ltd. (TSX-V: ABN), visit our Company's web site at www.abenresources.com.
Aben Resources has approx. 50.0 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
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.