Vancouver, BC – Aben Resources Ltd. (TSX-V: ABN) (OTCBB: ABNAF) (Frankfurt: E2L2) (the “Company”) is pleased to announce, further to its news release of November 09th, the Company has closed the first tranche of its non-brokered private placement financing and has raised $139,250.00 by the issuance of 2,785,000 Units (the “Units”) at a deemed price of $0.05 per Unit. Each Unit consists of one common share and one non-transferrable share purchase warrant (the “Warrant”). Each Warrant entitles the holder to purchase one additional common share at a price of $0.055 per share for a period of five years expiring December 21, 2020. Shares issued in connection with this private placement including any shares issued as a result of the exercise of any Warrants will be subject to a four month hold period expiring April 22, 2016. Ron Netolitzky, Jim Pettit and Tim Termuende, insiders of the Company, purchased 100,000, 200,000 and 100,000 Units respectively.
Proceeds of this private placement will be utilize 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.
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
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.