Vancouver, BC - Aben Resources Ltd. (TSX-V: ABN) (OTCBB: ABNAF) (Frankfurt: E2L2) (the “Company”) announces a non-brokered private placement of up to 5,000,000 units at a price of $0.05 per unit (“Unit”) to raise gross proceeds of up to $250,000. Each Unit will consists of one common share and one non-transferable share purchase warrant (“Warrant”), with each Warrant to entitle the holder to purchase one common share for a period of five years at a price of $0.055 per share from the closing date of the private placement.
A finder’s fee of 7% in cash and 7% in non-transferable warrants (the “Finder’s Warrants”) may be paid in connection with part of this private placement. Each Finder’s Warrant will entitle the finder to purchase a common share at a price of $0.055 per share for a period of five years from the closing date of the private placement.
The Company intends to utilize the proceeds of this private placement to evaluate new business opportunities for Aben and for general working capital purposes.
The private placement is subject to TSX Venture Exchange acceptance.
About Aben Resources:
Aben Resources is a Canadian uranium and gold exploration company with projects in Saskatchewan’s Athabasca Basin, Yukon, and NWT. Aben holds an interest in approximately 40,000 acres of highly prospective ground within the eastern flank of the Athabasca Basin in northern Saskatchewan including a 40% interest in the Mann Lake uranium project located 25 kilometres to the SSW of the McArthur River Uranium Mine.
For further information on Aben Resources Ltd. (TSX-V: ABN), visit our Company’s web site at www.abenresources.com.
Aben Resources has approx. 4.5 million shares issued and outstanding.
ABEN RESOURCES LTD.
JAMES G. PETTIT
For further information contact myself or:
Aben Resources Ltd.
Toll Free: 800-567-8181