Aston BAY Holdings Announces Revised Terms FOR Non-Brokered Private Placement
THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS
AGENCIES
FOR IMMEDIATE RELEASE
ASTON BAY HOLDINGS ANNOUNCES REVISED TERMS FOR NON-BROKERED PRIVATE
PLACEMENT
November 14, 2019 – Aston Bay Holdings Ltd. (TSX- V: BAY; OTCQB: ATBHF) (“Aston Bay” or the
“Company”) announces that it has revised the terms of its non-brokered private placement (the
“Offering”) previously announced on October 8, 2019. The revised offering , subject to th e
approval of the TSX Venture Exchange (the “Exchange”), is for aggregate gross proceeds of up to
$1,002,000. The Offering will consist of units (the “Units”) at a price of $0. 06 per Unit. The
Company intends to close the Offering during the month of November 2019.
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”) of the
Company 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.
The Company anticipates that current insiders of the Company may participate in the Offering.
Subject to Exchange approval, finder’s fees may be paid to persons who introduce the Company
to investors.
Should Aston Bay complete this Offering, it will permit the Company to proceed with a planned
exploration program on the Company’s Buckingham Gold Property in Virginia, USA. The program
plans include an ongoing detailed soil sampling program, IP geophysics and drilling. The proceeds
will also be used for gold exploration on other lands in Virginia and general corporate purposes.
Shares and Warrant Shares acquired by the placees will be subject to a hold period of four months
plus one day from the date of completion of the Offering, in accordance with applicable securities
legislation.
About Aston Bay Holdings Ltd.
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 has also acquired the exclusive rights to an integrated dataset over certain
prospective private lands at the Blue Ridge Project and has signed agreements with timber and
land companies which grants the company the option to lease the mineral rights to 11,065 acres
of land located in central Virginia. These lands are located within a gold -copper-lead-zinc
mineralized belt prospective for Carolina slate belt gold deposits , as well as sedimentary VMS,
exhalative (SEDEX) and Broken Hill (BHT) type base metal deposits . Don Taylor, who led the
predecessor company 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 Buckingham Gold Project in Virginia and is in
advanced stages of negotiation on other lands in the area.
The Company is also 100% owner of the Aston Bay Property located on western Somerset Island,
Nunavut, which neighbours Teck’s profitable, past-producing Polaris (Pb-Zn) Mine just 200km to
the north. The Aston Bay Property hosts the Storm Copper Project and the Seal Zinc Deposit with
drill-confirmed presence of sediment-hosted copper and zinc mineralization.
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 completio n of the
acquisition, 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 “bel ieve”, “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 statem ent, 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 D OES 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, O R 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
Sofia Harquail, IR and Corporate Development
(647) 821-1337