Aston BAY Holdings Closes Oversubscribed Non-Brokered Private Placement
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AGENCIES
FOR IMMEDIATE RELEASE TSX-V: BAY
ASTON BAY HOLDINGS CLOSES OVERSUBSCRIBED NON-BROKERED PRIVATE PLACEMENT
April 26, 2018 - Aston Bay Holdings Ltd. (TSX-V: BAY) (“Aston Bay” or the “Company”) is pleased
to announce that it has closed a non-brokered private placement (the “Offering”), raising gross
proceeds of $2,041,000. The Offering, which was announced on April 11, 2018, has been
oversubscribed by $41,000.
The Company has issued 12,756,250 flow-through shares (each a “FT Share”) at a price of $0.16
per FT Share. In connection with the Offering, Aston Bay will pay aggregate cash finder’s fees of
$120,960 to four arm’s length finders, representing 6% of the proceeds raised from
subscriptions by certain placees introduced by the finders.
All shares acquired by the placees under the Offering are subject to a hold period until August
26, 2018, in accordance with applicable Canadian securities legislation. Completion of the
Offering is subject to all required regulatory approvals, including final acceptance by the TSX
Venture Exchange (the “Exchange”). Conditional acceptance of the Offering was received from
the Exchange on April 6, 2018. The Company is awaiting final acceptance of the Offering.
Proceeds of this Offering will be used to expand existing plans for exploration activities at the
Storm Copper and Seal Zinc Projects during the 2018 summer exploration season, and in
particular to fund a second drill rig and expand the amount of drilling to be undertaken during
the campaign.
“This placement adds two strong institutional shareholders to our registry and strengthens the
position of a third, bolstering an already impressive slate of institutional support,” stated
Thomas Ullrich, CEO of Aston Bay. “Planning is underway for the expanded drill program with
expected mobilization in mid-June. We are in the process of refining drill hole targeting with Dr.
David Broughton and our team. Details of the targeting will be released in the coming weeks.”
Qualified Person
As per National Instrument 43-101 Standards of Disclosure for Mineral Projects, Michael
Dufresne, M.Sc., P.Geol., P.Geo., a Director of and a consultant to Aston Bay, is the Qualified
Person for the Company and has prepared, validated and approved the technical and scientific
content of this news release. The Company strictly adheres to CIM Best Practices Guidelines in
conducting, documenting, and reporting its exploration activities on the Storm Project.
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 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
Telephone: (416) 456-3516