Aston BAY Holdings Closes First Tranche of Non-Brokered Private Placement
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FOR IMMEDIATE RELEASE TSX-V: BAY
ASTON BAY HOLDINGS CLOSES FIRST TRANCHE OF NON-BROKERED PRIVATE PLACEMENT
December 29, 2017 - Aston Bay Holdings Ltd. (TSX- V: BAY) (“Aston Bay” or the “Company”) is
pleased to announce that on December 28, 2017, it closed the first tranche of the non-brokered
private placement, which was previously announced on December 12, 201 7 (the “Offering”).
Conditional acceptance of the Offering was received from the TSX Venture Exchange (“the
Exchange”) on December 19, 2017.
Pursuant to the first tranche of the Offering, which was closed early to capture flow-through tax
effects for the 2017 year, the Company has issued , subject to final approval of t he Exchange,
3,975,000 flow -through shares (each a “FT Share”) at a price of $0.16 per FT Share, for
aggregate gross proceeds of $636,000. All shares acquired by the placees under the first
tranche of the Offering are subject to a hold period until April 29 , 201 8, in accordance with
applicable Canadian securities legislation.
In connection with the closing of the first tranche of the Offering, Aston Bay has paid a cash
finder’s fee of $1,080 to Haywood Securities Inc. , representing 6% of the proceeds raised from
two subscriptions by two parties introduced by the finder . The Company has also paid a cash
finder’s fee of $11,880 to Gravitas Securities Inc., representing 6% of the proceeds raised from
two subscriptions by two parties introduced by the second finder. Finder’s fees were paid in
accordance with agreements made between the Company and the finders.
Non-flow-through units (each a “Unit”) and FT Shares continue to be available as part of the
Offering. Each Unit, priced at $0.15 per Unit, will consist of one common share of the Company
and one-half of one warrant ( each whole warrant a “Warrant”). Each Warran t will entitle the
holder thereof to acquire an additional non- flow-through common share of the Company at an
exercise price of $0.20 per Warrant for a period of 24 months from the date of issuance. Each
FT Share, priced at $0.16 per FT Share, will consist of one common share in the Company.
Proceeds from this Offering will be used for a planned 2018 drill program on the Aston Bay
Property, for advancing the Storm Copper and Seal Zinc Projects and for general corporate
purposes.
About Aston Bay Holdings
Aston Bay Holdings Ltd. (TSX-V: BAY) is a publicly traded mineral exploration company exploring
for large, high -grade, sediment-hosted copper and zinc deposits in Nunavut, a mining -friendly
Canadian jurisdiction. Aston Bay is 100% owner of the 1,024,345 -acre (414,537-hectare) Aston
Bay Property located on western Somerset Island, Nunavut. The Aston Bay Property hosts the
Storm Copper Project and the Seal Zinc Deposit, with historical drilling confirming the 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 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
Telephone: (416) 456-3516