Aston BAY Holdings Announces Extension of Private Placement
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AGENCIES
FOR IMMEDIATE RELEASE TSX-V: BAY
ASTON BAY HOLDINGS ANNOUNCES EXTENSION OF PRIVATE PLACEMENT
January 20, 2022 - Aston Bay Holdings Ltd. (TSX -V:BAY; OTCQB:ATBHF) (“Aston Bay” or the
“Company”) announces that the Company has been granted an extension by the TSX Venture
Exchange ("TSX-V") to complete the previously announced non-brokered private placement (the
“Offering”) of aggregate gross proceeds of up to $2,000,000 by no later than February 11, 2022.
The Offering consists of Units at a price of $0.06 per Unit, as announced in the Company's news
release dated November 29, 2021. Each Unit will consist of one common share of the Company
and one full warrant (a “Warrant”) entitling the holder thereof to acquire an additional common
share (the “Warrant Share”) at an exercise price of $0.12 per Warrant Share for a period of 24
months from the date of issuance. The Warrants will be subject to acceleration provisions when
the volume weighted average trading price is greater than $0.25 for 10 consecutive trading days.
As announced in its news release dated December 21, 2021, the Company closed the first tranche
of the Offering, issuing 13,473,500 Units for aggregate gross proceeds of $808,410. There can be
no assurances that the Company will be able to complete the Offering. The Offering is subject to
the final approval of the TSX-V and all regulatory approvals.
About Aston Bay Holdings
Aston Bay is a publicly traded mineral exploration comp any exploring for gold and base metal
deposits in Virginia, USA, and Nunavut, Canada. The Company is led by CEO Thomas Ullrich with
exploration in Virginia directed by the Company's advisor, Don Taylor, the 2018 Thayer Lindsley
Award winner for his discovery of the Taylor Pb-Zn-Ag Deposit in Arizona.
The Company has the exclusive option to lease the mineral rights to over 10,000 acres of
prospective private land located in central Virginia. These lands are located within a gold-copper-
lead-zinc mineralized belt prospective for mesothermal gold deposits and Virginia gold -pyrite
belt deposits, as well as sedimentary exhalative (SEDEX), Broken Hill (BHT) and volcanogenic
massive sulfide (VMS) type base metal deposits. Don Taylor, who led the predecessor compan y
to Blue Ridge and assembled the dataset, has joined the Company’s Advisory Board and will be
directing the Company’s exploration activities for the Blue Ridge Project. The Company is actively
exploring the Mountain Base Metals Project Buckingham Gold Pro ject in Virginia and is in
advanced stages of negotiation on other lands in the area.
The Company is also 100% owner of the property Storm Project, which hosts the Storm Copper
Project and the Seal Zinc Deposit and has been optioned to American West Metals Limited.
The Company’s public disclosure documents are available on www.sedar.com.
FORWARD-LOOKING STATEMENTS
Statements made in this press release, including those regarding the closing and the use of
proceeds of the private placement, management objectives, forecasts, estimates, expectations,
or predictions of the future may constitute “forward-looking statement”, which can be identified
by the use of conditional or future tenses or by the use of such verbs as “believe”, “expect”,
“may”, “will”, “should”, “estimate”, “anticipate”, “project”, “plan”, and words of similar import,
including variations thereof and ne gative forms. This press release contains forward -looking
statements that reflect, as of the date of this press release, Aston Bay’s expectations, estimates
and projections about its operations, the mining industry and the economic environment in
which it operates. Statements in this press release that are not supported by historical fact are
forward-looking statements, meaning they involve risk, uncertainty and other factors that could
cause actual results to differ materially from those expressed or implied by such forward-looking
statements. Although Aston Bay believes that the assumptions inherent in the forward -looking
statements are reasonable, undue reliance should not be placed on these statements, which
apply only at the time of writing of this pres s release. Aston Bay disclaims any intention or
obligation to update or revise any forward -looking statement, whether as a result of new
information, future events or otherwise, except to the extent required by securities legislation.
We seek safe harbour.
Neither TSX Venture Exchange nor its regulation services provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
news release.
THIS PRESS RELEASE, REQUIRED BY APPLICABLE CAN ADIAN LAWS, IS NOT FOR DISTRIBUTION
TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT
CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE
SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIE S HAVE NOT BEEN,
AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS
AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE
UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.
FOR ADDITIONAL INFORMATION CONTACT:
Thomas Ullrich, Chief Executive Officer
(416) 456-3516