Proceeds to be used for drilling program on flagship Justin project
By Susanna Moon
Chicago, Aug. 21 - Aben Resources Ltd. said it arranged a non-brokered private placement to raise up to C$1 million from the sale of flow-through units consisting of one flow-through share and one non-transferable, non-flow-through warrant.
The company will issue up to 14,285,714 flow-through units at a price of C$0.07 each.
Each warrant will be exercisable at C$0.10 for three years. The strike price is a 42.86% premium to the company's closing price of C$0.07 on Monday.
Proceeds will be used for the company's continuing drill program on its 100% owned, 18,314-acre flagship Justin project in the southeast Yukon.
The gold and silver exploration company is based in Vancouver, B.C.
| Issuer: | Aben Resources Ltd.
|
| Issue: | Flow-through units of one flow-through share and one non-transferable, non-flow-through warrant
|
| Amount: | C$1 million
|
| Units: | 14,285,714
|
| Price: | C$0.07
|
| Warrants: | One per unit
|
| Warrant strike price: | C$0.10
|
| Warrant expiration: | Three years
|
| Agent: | Non-brokered
|
| Pricing date: | Aug. 21
|
| Stock symbol: | Canada: ABN
|
| Stock price: | C$0.07 at close Aug. 20
|
| Market capitalization: | C$6.98 million
|
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