Proceeds to be used for drilling program on flagship Justin project
By Devika Patel
Knoxville, Tenn., Sept. 11 - Aben Resources Ltd. said it raised C$348,990 in the initial tranche of a C$1 million non-brokered private placement of units. The deal priced Aug. 21.
The company is selling 14,285,714 units of one flow-through common share and one warrant at C$0.07 per unit. It sold 4,985,572 units in the first tranche.
Each warrant is 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 Aug. 20.
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: | Units of one flow-through common share and one warrant
|
| Amount: | C$4,888,000
|
| Units: | 14,285,714
|
| Price: | C$0.07
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | April 21, 2014
|
| Warrant strike price: | C$0.55
|
| Agent: | Non-brokered
|
| Pricing date: | Aug. 21
|
| Settlement date: | Sept. 11 (for C$348,990)
|
| Stock symbol: | TSX Venture: ABN
|
| Stock price: | C$0.07 at close Aug. 20
|
| Market capitalization: | C$6.4 million
|
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