Aston Bay Holdings Closes Final Tranche of Non-Brokered Private Placement
Aston Bay Holdings Closes Final Tranche of Non-Brokered Private
Placement
TORONTO, ON / ACCESSWIRE / April 8, 2022 / Aston Bay Holdings Ltd. (TSX-
V:BAY)(OTCQB:ATBHF) ("Aston Bay" or the "Company") today announced that it has closed
the final tranche of the Company's non-brokered private placement, previously announced on
November 29, 2021 (the "Offering"). Pursuant to this tranche of the Offering, the Company has
issued 1,005,000 units (each a "Unit") at a price of $0.06 per Unit, for aggregate gross proceeds
of $60,300. The closing is subject to final acceptance of the TSX Venture Exchange.
Each Unit consists of one common share of the Company and one full warrant (a "Warrant").
Each Warrant will entitle the holder thereof to acquire an additional common share of the
Company at an exercise price of $0.12 per Warrant for a period of 24 months from the date of
issuance.
All shares acquired by the placees under this tranche of the Offering, and shares which may be
acquired upon the exercise of the Warrants, are subject to a hold period until August 9, 2022, in
accordance with applicable Canadian securities legislation. Warrants issued in this tranche of the
Offering are exercisable at $0.12 to purchase one common share of the Company until April 8,
2024.
Proceeds of this Offering will be used for exploration on Mountain Base Metals, Brownfields
Gold and Buckingham Gold Properties in Virginia, USA and for general corporate purposes.
About Aston Bay Holdings
Aston Bay is a publicly traded mineral exploration company exploring for base metals and gold
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 Base Metals Project in Virginia, exploring the
Buckingham Gold Project, also 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.
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.