Aben Resources Closes Final Tranche of Private Placement Financing
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec 29, 2015) - Aben Resources Ltd. (TSX VENTURE:ABN)(OTCBB:ABNAF)(FRANKFURT:E2L2) (the "Company") is pleased to announce, further to its news release of November 09th and December 22nd, the Company has closed the 2nd and final tranche of its non-brokered private placement financing and has raised a total of $179,250.00 by the issuance of 3,585,000 Units (the "Units") at a deemed price of $0.05 per Unit. Each Unit consists of one common share and one non-transferrable share purchase warrant (the "Warrant"). Each Warrant entitles the holder to purchase one additional common share at a price of $0.055 per share for a period of five years expiring December 24, 2020 for the 2nd tranche closing. Shares issued in connection with this 2nd tranche closing including any shares issued as a result of the exercise of any Warrants will be subject to a four month hold period expiring April 25, 2016.
Insiders of Company have purchased part of this private placement with Ron Netolitzky purchasing 100,000 Units, Jim Pettit 200,000 Units, Tim Termuende 100,000 Units and William Trimble 750,000 Units. Pro group participation in the private placement totals 600,000 Units. Finder fees paid for part of the private placement totals $2,450 and 49,000 Agent Warrants. The Agent Warrants are subject to the same terms and conditions as the 2nd tranche subscriber Warrants.
Proceeds of this private placement will be utilize to evaluate new business opportunities for Aben and for general working capital purposes.
About Aben Resources:
Aben Resources is a Canadian uranium and gold exploration company with projects in Saskatchewan's Athabasca Basin, Yukon, and NWT.
For further information on Aben Resources Ltd. (TSX VENTURE:ABN), visit our Company's web site at www.abenresources.com.
Aben Resources has approx. 7.9 million shares issued and outstanding.
JAMES G. PETTIT, President
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.
Contact
Aben Resources Ltd.
James Pettit
President
604-687-3376 or Toll Free: 800-567-8181
604-687-3119
info@abenresources.com
Aben Resources Ltd.
Don Myers
Corporate Communications
604-687-3376 or Toll Free: 800-567-8181
604-687-3119
info@abenresources.com
www.abenresources.com
