Vancouver, British Columbia – October 30, 2013 – Aston Bay Holdings Ltd. (TSX-V: BAY) (“Aston Bay” or the “Company”) announced today that the non-flow-through portion of the non-brokered private placement previously announced on October 15, 2013 has been over-subscribed. The Company now proposes to issue, subject to approval of the TSX Venture Exchange, up to 52 non-flow-through units (the “NFT Units”) at a price of $3,000 per NFT Unit for gross proceeds of up to $156,000. Each NFT Unit consists of 20,000 non-flow-through common shares of the Company (the “NFT Shares”) priced at $0.15 and 10,000 Warrants. Each Warrant will entitle the holder to acquire an additional NFT Share at a price of $0.30 per NFT Share for a period of two years from the date of issuance, subject to accelerated expiry in certain circumstances. Insiders of the Company have subscribed for the entire Offering. The Company is also proceeding with the flow-through portion of the private placement announced on October 15, 2013.
About Aston Bay Holdings
Aston Bay Holdings Ltd. (TSX-V: BAY) is a publicly traded mineral exploration company focused on the 345,033 acre Storm Property located on northwest Somerset Island, Nunavut. The property hosts the Storm Copper and Seal Zinc prospects. Aston Bay holds the right to earn or buy up to a 100% undivided interest in the Storm Property from Commander Resources Ltd. (TSX-V: CMD).
On behalf of the Board of Directors,
Benjamin Cox, Chief Executive Officer
Telephone: (360) 262-6969
For further information about Aston Bay Holdings Ltd. or this news release, please visit our website at http://www.astonbayholdings.com.
Neither the TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain statements that may be deemed “forward-looking statements”. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company 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 may differ materially from those in forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
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