Aben Resources Closes First Tranche of Private Placement
Vancouver, BC – Aben Resources Ltd. (TSX-V: ABN) (OTCBB: ABNAF) (Frankfurt: E2L2) (the “Company”) is pleased to announce the closing of the first tranche of the private placement announced on May 11, 2016. The Company has issued 2,140,000 units at $0.05 for gross proceeds of $107,000 with each unit consisting of one share and one warrant exercisable at $0.10 for a period of one year. Agents received an aggregate of $3,290 cash and 65,800 Agent’s warrants as finder’s fees with the warrants having the same terms as the subscriber’s warrants.
As the private placement was oversubscribed, the Company has increased the financing to $300,000.
Aben intends to utilize the proceeds from the private placement for exploration on its newly acquired 3906 hectares Beauty, Iskut River property located in the Golden Triangle region of northwest British Columbia and for general working capital purposes.
About Aben Resources:
Aben Resources is a Canadian gold exploration company developing projects in British Columbia, the Yukon and North West Territories.
For further information on Aben Resources Ltd. (TSX-V: ABN), visit our Company’s web site at www.abenresources.com.
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.