Vancouver, British Columbia – November 28, 2013 – Aston Bay Holdings Ltd. (TSX-V: BAY) (“Aston Bay” or the “Company”) is pleased to announce that it has closed the second tranche of its non-brokered private placement, subsequent to its news releases of October 15, 2013 and October 30, 2013.
Pursuant to this second tranche of the offering (the “Offering”), the Company has issued a total of 26 flow-through units (the “FT Units”) at a price of $2,750 per FT Unit, for gross proceeds of $71,500. Each FT Unit consists of 10,000 flow-through common shares (“FT Shares”) priced at $0.20 per FT Share, 5,000 non-flow-through common shares priced at $0.15 per NFT Share and 5,000 warrants. Each Warrant entitles the holder to acquire an additional NFT Share at a price of $0.30 per NFT Share until November 28, 2015, subject to accelerated expiry in certain circumstances. Finder’s fees were paid in connection with the closing of this second tranche of the Offering.
Proceeds of this Offering will be used for advancing the Storm Copper and Seal Zinc Projects and for general corporate purposes.
All shares acquired by the placees in the second tranche of the Offering, and shares which may be acquired upon the exercise of the Warrants, will be subject to a hold period until March 29, 2014, in accordance with applicable Canadian securities legislation.
Following closing of this second tranche of the Offering, the Company has 25,285,000 common shares issued and outstanding.
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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