Aston Bay Holdings Announces Extension of Private Placement
Aston Bay Holdings Announces Extension of Private Placement
Not for distribution in the United States or to United States newswire services
TORONTO, ON / ACCESSWIRE / February 16, 2022 / Aston Bay Holdings Ltd.
(TSXV:BAY)(OTCQB:ATBHF)(FRA:6AY) ("Aston Bay" or the "Company") announces that
the Company has been granted an extension by the TSX Venture Exchange ("TSX-V" or the
"Exchange") 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 March 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 Exchange and all regulatory approvals.
About Aston Bay Holdings
Aston Bay is a publicly traded mineral exploration company 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 is currently drilling the Mountain Copper-Zinc Project in Virginia, and conducting
initial exploration at the Buckingham Gold Project (in Virginia).
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.
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 negative 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 press 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 CANADIAN 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 SECURITIES 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
Salisha Ilyas, Investor Relations
(647) 209-9200
SOURCE: Aston Bay Holdings Ltd.