Vancouver, British Columbia – September 10, 2013 – Aston Bay Holdings Ltd. (TSX-V: BAY) (“Aston Bay” or the “Company”) today announced that it will conduct a non-brokered private placement (the “Offering”) of up to 1,000,000 units of Aston Bay (the “NFT Units”) at a price of $0.20 per NFT Unit and up to 400,000 common shares (the “FT Shares”) issued on a “flow-through” basis at a price of $0.25 per FT Share, for aggregate gross proceeds of up to $300,000. Each NFT Unit consists of one common share of the Company and one-half of a warrant, each whole warrant entitling the holder to acquire an additional common share at an exercise price of $0.40 for a period of 12 months from the completion of the offering.
The Company anticipates that some current insiders of the Company will participate in the Offering. Finder’s fees in amounts yet to be determined may be paid to persons who introduce the Company to investors.
Proceeds of this Offering will be used for advancing the Storm Copper and Seal Zinc Projects, and for general corporate purposes.
Shares acquired by the placees, and shares which may be acquired upon the exercise of the share purchase warrants, will be subject to a hold period of four months plus one day from the date of completion of the financing, in accordance with applicable securities legislation.
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 https://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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