Aston BAY Holdings Closes First Tranche of $2,000,000 Private Placement Brokered and Non-Brokered Offering
1
THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S.
NEWS AGENCIES
FOR IMMEDIATE RELEASE TSX-V: BAY
ASTON BAY HOLDINGS CLOSES FIRST TRANCHE
OF $2,000,000 PRIVATE PLACEMENT BROKERED AND NON-BROKERED OFFERING
Toronto, Ontario – July 10, 2017 - Aston Bay Holdings Ltd. (TSX -V: BAY) (“Aston Bay” or the
“Company”) is pleased to announce that on July 7, 2017, it closed the first tranche of its brokered and
non-brokered private placement offering, for gross proceeds of $2,096,346. The $2,000,000 offering (the
“Offering”), as announced on May 11, 2017 and June 21, 2017, has been over-subscribed.
In the first tranche of the Offering, 9,464,200 Units were issued at a price of $0.13 per Unit, for total
gross consideration of $1,230,346. Each Unit consisted of one common share and one half -warrant. A
total of 4,732,100 warrants were issued to Unit subscribers in the first tranche of the Offering. In addition,
5,412,500 common shares were issued on a flow -through basis under the Canada Income Tax Act at a per
share price of $0.16, for total gross consideration of $866,000.
Red Cloud Klondike Strike Inc. (“Red Cloud KS”) acted as agent for the brokered portion of the Offering.
Red Cloud KS received a total cash commission equal to 6% of the gross proceeds of the brokered portion
of the Offering and 6% broker’s warrants. PearTree Securities Inc. also provided certain services to the
Company in respect of the flow-through portion of the Offering.
Shares acquired by the placees under the first tranche of the Offering are subject to a hold period until
November 8, 2017, in accordance with applicable Canadian securities legislation.
Aggregate finder’s fees equal to 6% cash commissions and 6% warrants of certain subscriptions were also
paid by Aston Bay to Haywood Securities Inc., Leede Jones Gable Inc. and Canaccord Genuity Corp.
Net proceeds from the Offering will be used by Aston Bay to conduct a planned property -wide
geophysical survey, a planned geological field program on Somerset Island to be led by Dr. David
Broughton, Chief Geologist for the Storm and Seal Projects, and for general corporate purposes. The
Company intends to use the data collected from these programs to generate and prioritize drill targets.
Following closing of this private placement, the Company has 74 ,399,289 common shares issued and
outstanding.
About Aston Bay Holdings
Aston Bay Holdings Ltd. (TSX -V: BAY) is a publicly traded mineral exploration company focused on
the 976,066-acre (395,000-hectare) Aston Bay Property located on northwest Somerset Island, Nunavut.
The Aston Bay Property hosts the Storm Copper project and the Seal Zinc project. Historical drilling has
confirmed the presence of sediment-hosted copper and zinc mineralization on the property.
The Company’s public disclosure documents are available on www.sedar.com. For further information
2
about Aston Bay Holdings Ltd. or this news release, please visit www.astonbayholdings.com.
On behalf of the Board of Directors,
Thomas Ullrich, Chief Executive Officer
Telephone: (416) 456-3516
Neither the TSX Venture Exchange Inc. 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 news release contains certain statements that may be deemed “forward -looking statements”.
Forward-looking statements are statements that are not historical facts and are generally, b ut not always,
identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”,
“potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or
“should” occur. Although the Comp any 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 may differ materially from those in forward -looking statements. Forw ard-looking
statements are based on the beliefs, estimates and opinions of the Company’s management on the date the
statements are made. In the event that management’s beliefs, estimates or opinions, or other factors,
should change, the Company undertakes no obligation to update these forward-looking statements, except
as required by law.
We seek Safe Harbor.
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 BUY 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.