Aben Closes Private Placement
Suite 1610 – 777 Dunsmuir Street, Vancouver, BC, V7Y 1K4, CANADA
www.abenresources.com
TSX-V Trading Symbol: ABN
Email: [email protected]
Telephone: (604) 687-3376
Facsimile: (604) 687-3119
NEWS RELEASE
July 10, 2020
Aben Closes Private Placement
Vancouver, BC -- Aben Resources Ltd. (TSX -V: ABN) (OTCQB: ABNAF) (Frankfurt: E2L2)
(“Aben” or “the Company”) is pleased to announce that it has completed a non-brokered private
placement financing for total gross proceeds of $1, 046,300.04 (the “Private Placement”). The
Company has issued 5,385,000 units (the "Units") at a price of CAD $0.1 0 per Unit and 4,231,667
flow-through units (the "FT Units") at a price of CAD $0.12 per FT Unit.
Each Unit is comprised of one common share and one warrant (a “Warrant”) . Each FT Unit is
comprised of one flow-through common share and one-half of one Warrant. Each Warrant will entitle
the holder to purchase one common share for a period of two (2) years at a price of CAD $0.15 per
share.
In addition, the Company has paid finder's fees totaling $ 56,056 and issued an aggregate 520,800
finder's warrants to arm's-length parties, with each finder’s warrant bearing the same terms as the
Warrants.
The Company intends to use the proceeds from this Private Placement for exploration activities and
the upcoming drilling program at its Forrest Kerr Gold Project, British Columbia, as well as for general
working capital purposes. The Private Placement is subject to final TSX Venture Exchange
("Exchange") approval and all securities issued are subject to a four-month-and-one-day hold period.
A portion of the Private Placement constitutes a "related party transaction" within the meaning of
Exchange Policy 5.9 and Multilateral Instrument 61 -101 -Protection of Minority Security Holders in
Special Transactions ("MI 61-101") adopted in the Policy. The Company has relied on exemptions
from the formal valuation and minority shareholder approval requirements of MI 61 - 101 contained
in sections 5.5(a) and 5.7(1)(a) of MI 61 -101 in respect of related party participation in the Private
Placement.
About Aben Resources:
Aben Resources is a Canadian gold exploration company developing gold-focused projects in British
Columbia and the Yukon Territory. Aben is a well-funded junior exploration company with over $1.0
million in the Company’s treasury.
For further information on Aben Resources Ltd. (TSX-V: ABN), visit our Company’s web site at
www.abenresources.com
ABEN RESOURCES LTD.
“Jim Pettit”
JAMES G. PETTIT
President & CEO
For further information contact myself or:
Simon Dyakowski
Aben Resources Ltd.
Strategic Advisor
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: [email protected]
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 forwa rd-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 m aterially 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.