Aston BAY Holdings Opens Additional Non-Brokered Private Placement
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FOR IMMEDIATE RELEASE TSX-V: BAY
ASTON BAY HOLDINGS OPENS ADDITIONAL NON-BROKERED PRIVATE PLACEMENT
April 11, 2018 - Aston Bay Holdings Ltd. (TSX-V: BAY) (“Aston Bay” or the “Company”) is pleased
to announce that it has received conditional approval from the TSX Venture Exchange (the
“Exchange”) for the Company to proceed with a private placement offering (the “Offering”) of
up to 12,500,000 flow -through shares at $0.16 per share. This Offering follows the recently
closed private placement, in which the Company had significant additional instituti onal interest
which it could not accommodate given the prearranged approval limits. Should Aston Bay
complete this new Offering, it will permit the Company to expand its plans for exploration
activities at the Storm Copper and Seal Zinc Projects during the 2018 summer exploration
season, for advancing the Storm Copper and Seal Zinc Projects. In particular, proceeds would be
used to fund a second drill rig and to expand the planned amount of drilling during the 2018
campaign.
“Adding a second drill will allow us to test more targets more efficiently at a significantly lower
cost per metre drilled , and provides flexibility to aggressively follow up positive results”,
commented Chief Geologist Dr. David Broughton.
Conditional approval for the Offering was received from the Exchange on April 6, 2018. Subject
to Exchange approval, finder’s fees may be paid to persons who introduce the Company to
investors. Shares acquired by the placees will be subject to a hold perio d of four months plus
one day from the date of completion of the Offering, in accordance with applicable securities
legislation. The Offering is subject to final approval by the Exchange.
The recently closed private placement, which was oversubscribed an d raised aggregate gross
proceeds of $4,466,991, described in the Company’s news release of April 2, 2018 , was granted
final approval by the Exchange on April 10, 2018.
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. Eugene
Puritch, P.Eng., FEC, CET of P&E Mining Consultants Inc., an Independent Qualified Person as
defined by NI 43-101, has reviewed and approved the technical contents of this news release.
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 objec tives, 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”, “shoul d”, “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 inform ation, 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 r esponsibility 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 O R 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