Aben Resources Closes $2.32 Million Private Placement Financings
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
April 23, 2018
Aben Resources Closes $2.32 Million Private Placement Financings
Vancouver, BC -- Aben Resources Ltd. (TSX -V: ABN) (OTCBB: ABNAF) (Frankfurt: E2L2)
(the “Company”) is pleased to announce it has closed its previously announced non-brokered
private placement financings (see news releases dated April 6, 2018 and April 16, 2018) for
aggregate gross proceeds of just over CAD $2.32 mill ion. The Company intends to utilize the
proceeds from this financing for a 2018 exploration and drilling program at its Forrest Kerr Gold
Project located in B.C.’s Golden Triangle region and for general working capital purposes.
Golden Triangle, BC Claims Map:
https://www.abenresources.com/site/assets/files/4623/abn_golden_triangle_map.jpg
The Company has issued 6,283,000 Units at a price of $0.1 25 per Unit for gross proceeds of
$785,375. Each Unit consist s of one share and one share purchase w arrant (the “Warrants”)
entitling the holder to purchase an additional common share at a price of $0. 25 for a period of
three years expiring April 23, 2021.
Additionally, Aben has issued 8,550,000 flow-through Units at a price of $0. 18 per flow-through
Unit for gross proceeds of $1,539,000. Each flow-through Unit consist s of one flow-through
share and one share purchase Warrant entitling the holder to purchase an additio nal non flow-
through share at a price of $0.25 for a period of three years expiring April 23, 2021.
The Company’s President and CEO, Jim Pettit, stated: “With the closing of these financings, the
Company is well positioned with over $3.5 million in the treasury to fund the upcoming drill
programs at its flagship Forrest Kerr Gold Project. We are keen to commence the drilling after
the success of last year’s summer drill program which included a new discovery and high grade
drill results of 21.5 grams per tonne Au, 28.5 grams per tonne Ag and 3.1% Cu over 6 metres as
well as 6.7 grams per tonne Au and 0.9% Cu over 10 metres at the Boundary North Zone.
Notable regional discoveries by Pretium, GT Gold, Colorado Resources and others illustrate the
significant d iscovery upside remaining in the district and we are confident in the potential at
Forrest Kerr given the newly discovered and historic high grade mineralization there as well as
the numerous untested gold-in-soil anomalies present.”
In connection with pa rt of this Offering, the Company paid $95,349 in cash finder's fees and
issued 649,730 finder's warrants ("Finder's Warrants") to qualified arm's length finders. Each
Finder's Warrant entitles the holder to acquire one additional share at an exercise price of $0.25
for a period of three years expiring April 23, 2021. Two directors of the Company subscribed for
160,000 Units of the financing.
The expiry period for the Warrants and Finder’s Warrants shall be subject to acceleration if the
average trading pr ice for the Company's shares stays above $0.50 for 10 consecutive trading
days. The securities issued pursuant to the Offering and any shares issuable upon the exercise
of warrants will be subject to a statutory four month and one day hold period expiring August 24,
2018.
Cornell McDowell, P.Geo., V.P. of Exploration of Aben Resources, has reviewed and approved
the technical aspects of this news release and is the Qualified Person as defined by National
Instrument 43-101.
About Aben Resources:
Aben Resou rces is a Canadian gold exploration company developing projects in British
Columbia’s Golden Triangle, the Yukon and Saskatchewan.
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:
Don Myers
Aben Resources Ltd.
Director, Corporate Communications
Telephone: 604-639-3851
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 fa cts, 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 fi nancing, and general economic, market
or business conditions. Please see the public filings of the Company at www.sedar.com for further
information.