Vancouver, BC — Aben Resources Ltd. (TSX-V: ABN) (OTCBB: ABNAF) (Frankfurt: E2L2) (the “Aben or the Company”) is pleased to announce it has closed a non-brokered private placement financing for total gross proceeds of CAD $153,499.94 (the “Placement”).
The Company has allotted and issued 1,395,454 units (the “Units”) at a price of CAD $0.11 per Unit. Each Unit is comprised of one common share and one transferable warrant (the “Warrants”). Each Warrant will entitle the holder to purchase one additional common share for a period of two (2) years at a price of CAD $0.15 per share.
In addition, the Company has paid finder’s fees of $1,540 and issued 14,000 finder’s warrants (the “Finders Warrants”) to an arm’s-length party. Each Finders Warrant is exercisable into one common share for a period of up to two (2) years at a price of CAD $0.15 per share.
The Company intends to use the proceeds from the Placement towards general working capital purposes. All securities issued under the Placement will be subject to a four-month and one-day hold period expiring January 19, 2021. The Placement remains subject to the final approval of the TSX Venture Exchange.
About Aben Resources:
Aben Resources is a Canadian gold exploration company developing gold-focused projects in British Columbia and the Yukon Territory. Aben is a well-funded junior exploration company.
For further information on Aben Resources Ltd. (TSX-V: ABN), visit our Company’s web site at www.abenresources.com