Aston Bay Holdings Announces Extension of Private Placement
Aston Bay Holdings Ltd. (OTCQB:ATBHF) announced an extension granted by the TSX Venture Exchange to complete its non-brokered private placement, aiming for gross proceeds of up to $2,000,000 by February 11, 2022. The offering includes Units priced at $0.06 each, which consist of common shares and warrants allowing the purchase of additional shares at $0.12 for 24 months. The Company closed the first tranche, raising $808,410. Completion is subject to TSX-V final approvals.
- Extension granted for non-brokered private placement allowing more time for completion.
- Secured gross proceeds of $808,410 from the first tranche of the offering.
- The Company has not assured completion of the total offering.
- Offering is subject to final approval, creating uncertainty.
THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES
TORONTO, ON / ACCESSWIRE / January 20, 2022 / Aston Bay Holdings Ltd. (TSX-V:BAY; OTCQB:ATBHF) ("Aston Bay" or the "Company") announces that the Company has been granted an extension by the TSX Venture Exchange ("TSX-V") to complete the previously announced non-brokered private placement (the "Offering") of aggregate gross proceeds of up to
The Offering consists of Units at a price of
As announced in its news release dated December 21, 2021, the Company closed the first tranche of the Offering, issuing 13,473,500 Units for aggregate gross proceeds of
About Aston Bay Holdings
Aston Bay is a publicly traded mineral exploration company exploring for gold and base metal deposits in Virginia, USA, and Nunavut, Canada. The Company is led by CEO Thomas Ullrich with exploration in Virginia directed by the Company's advisor, Don Taylor, the 2018 Thayer Lindsley Award winner for his discovery of the Taylor Pb-Zn-Ag Deposit in Arizona.
The Company has the exclusive option to lease the mineral rights to over 10,000 acres of prospective private land located in central Virginia. These lands are located within a gold-copper-lead-zinc mineralized belt prospective for mesothermal gold deposits and Virginia gold-pyrite belt deposits, as well as sedimentary exhalative (SEDEX), Broken Hill (BHT) and volcanogenic massive sulfide (VMS) type base metal deposits. Don Taylor, who led the predecessor company to Blue Ridge and assembled the dataset, has joined the Company's Advisory Board and will be directing the Company's exploration activities for the Blue Ridge Project. The Company is actively exploring the Mountain Base Metals Project Buckingham Gold Project in Virginia and is in advanced stages of negotiation on other lands in the area.
The Company is also
The Company's public disclosure documents are available on www.sedar.com.
FORWARD-LOOKING STATEMENTS
Statements made in this press release, including those regarding the closing and the use of proceeds of the private placement, management objectives, forecasts, estimates, expectations, or predictions of the future may constitute "forward-looking statement", which can be identified by the use of conditional or future tenses or by the use of such verbs as "believe", "expect", "may", "will", "should", "estimate", "anticipate", "project", "plan", and words of similar import, including variations thereof and negative forms. This press release contains forward-looking statements that reflect, as of the date of this press release, Aston Bay's expectations, estimates and projections about its operations, the mining industry and the economic environment in which it operates. Statements in this press release that are not supported by historical fact are forward-looking statements, meaning they involve risk, uncertainty and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Although Aston Bay believes that the assumptions inherent in the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which apply only at the time of writing of this press release. Aston Bay disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except to the extent required by securities legislation. We seek safe harbour.
Neither TSX Venture Exchange nor its regulation services provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.
FOR ADDITIONAL INFORMATION CONTACT:
Thomas Ullrich, Chief Executive Officer
thomas.ullrich@astonbayholdings.com
(416) 456-3516
SOURCE: Aston Bay Holdings Ltd
View source version on accesswire.com:
https://www.accesswire.com/684828/Aston-Bay-Holdings-Announces-Extension-of-Private-Placement
FAQ
What is the purpose of Aston Bay Holdings' private placement?
What are the terms of the private placement for Aston Bay Holdings?
What is the deadline for Aston Bay Holdings' private placement extension?
How much did Aston Bay Holdings raise in the first tranche of the offering?