Aston Bay Holdings Update on Non-Brokered Private Placement and Share Consolidation
Aston Bay Holdings Update on Non-Brokered Private Placement and Share
Consolidation
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION
IN THE U.S.
TORONTO, ON / ACCESSWIRE / August 9, 2023 / Aston Bay Holdings Ltd. (TSX-
V:BAY)(OTCQB:ATBHF) ("Aston Bay" or the "Company") has recently announced significant
exploration discoveries made at the Company's Storm Copper Project (the "Project") on
Somerset Island, Nunavut, Canada by the Project operator American West Metals Limited (see
news releases dated August 2, 2023 and August 8, 2023). These advancements are deemed to be
Material Information, as defined in the policy of the TSX Venture Exchange that pertains to the
pricing of private placements.
Due to this development, the ongoing non-brokered private placement's pricing structure can no
longer be maintained within the previously announced terms, and the Company is unable to
proceed with the private placement as originally announced. As a result of these circumstances,
both the private placement and the share consolidation initiative are now terminated.
In the coming days, the Company plans to establish revised terms for a new private placement.
About Aston Bay Holdings
Aston Bay is a publicly traded mineral exploration company exploring for high-grade copper 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 exploring the high-grade Buckingham Gold Vein in central Virginia
and is in advanced stages of negotiation on other lands with high-grade copper potential in the
area.
The Company is 100% owner of the Storm Project property, which hosts the Storm Copper
Project and the Seal Zinc Deposit and has been optioned to American West Metals Limited.
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
(416) 456-3516
Sofia Harquail, IR and Corporate Development
(647) 821-1337
SOURCE: Aston Bay Holdings Ltd.