VANCOUVER, British Columbia, Sept. 11, 2018 (GLOBE NEWSWIRE) -- Aben Resources Ltd. (TSX-V: ABN) (OTCQB: ABNAF) (Frankfurt: E2L2) (the “Company”) has arranged and closed a non-brokered private placement of 2,375,000 flow-through common shares at a price of $0.40 each for gross proceeds of $950,000. The financing was placed with institutional investors. The Company intends to utilize the proceeds from the private placement on the expansion of its 2018 exploration and drilling program at its Forrest Kerr Gold Project located in the Golden Triangle region of British Columbia. The Company had originally announced and budgeted for up to 5000 metres of drilling and now intends to at least double that amount this year.
Forrest Kerr Project, Golden Triangle, British Columbia location map:
In connection with this private placement, finder fees of 7% cash and 7% finder warrants were paid to PI Financial Corp. as to $66,500 and 166,250 finder warrants. Each finder warrant will entitle the finder to purchase one common share for two (2) years at a price of CAD $0.60 per common share.
The private placement is subject to TSX Venture Exchange final acceptance, and all securities are subject to a four-month-and-one-day hold period expiring January 12th, 2019.
About Aben Resources:
Aben Resources is a Canadian gold exploration company developing projects in British Columbia’s Golden Triangle, Saskatchewan and the Yukon. The Company is actively exploring its flagship and high-grade Forrest Kerr Project located in the Golden Triangle region where recent drilling has discovered strong precious and base metal mineralization at the North Boundary Zone.
ABEN RESOURCES LTD.
JAMES G. PETTIT
President & CEO
For further information contact myself or:
Aben Resources Ltd.
Director, Corporate Communications
Toll Free: 800-567-8181
Neither TSX Venture Exchange 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 release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management 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 or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.