Aben Minerals Completes Successful Private Placement Funding
Aben Minerals Completes Successful Private Placement Funding
Vancouver, BC — Aben Minerals Ltd. (TSX-V: ABM) (OTCQB: ABNAF) (Frankfurt: R26) has announced the completion of a non-brokered private placement financing, bringing in a total of CAD $316,000 in gross proceeds. This financing marks a significant step forward for the company as it continues to advance its exploration projects.
Details of the Private Placement
Aben has successfully allocated and issued 4,514,286 units at a price of CAD $0.07 per Unit. Each unit comprises one common share and one full warrant. Each warrant grants the holder the right to purchase one common share for two years at a price of CAD $0.10 per share. This structure allows investors to benefit from potential future growth while supporting Aben's exploration efforts.
Utilization of Proceeds
Proceeds from this private placement will primarily be directed towards exploration expenditures and general working capital purposes. The funds raised are crucial for the company as it seeks to enhance its exploration initiatives and expand its project pipeline.
Finder’s Fees and Related Transactions
Aben has also compensated an arm’s-length party with finder’s fees of CAD $2,940 and has issued 42,000 finder’s warrants. Each finder’s warrant is exercisable into one common share for a two-year period also at a price of CAD $0.10. Notably, a portion of this private placement is recognized as a "related party transaction" as defined by Multilateral Instrument 61-101. The company is relying on specific exemptions due to the relative value of the shares issued.
About Aben Minerals
Aben Minerals is a Canadian gold exploration company that has been making strides in the mining industry. The company is actively engaged in projects situated in the Yukon Territory and British Columbia. Their flagship project, the 7,400-hectare Justin Gold Project, is strategically located adjacent to Seabridge Gold's 3 Aces Project in the Tintina Gold Belt. Additionally, Aben owns the Forrest Kerr Gold Project, located in the well-known Golden Triangle region of British Columbia, which is adjacent to Skeena's KSM Project and Seabridge Gold's Iskut Project.
Company’s Vision and Future Prospects
The core vision of Aben Minerals is to increase shareholder value through new discoveries and enhanced exploration projects in geopolitically favorable jurisdictions. The successful completion of this financing demonstrates the market's confidence in Aben's exploration strategy and commitment to its shareholders.
Company Contact Information
Aben Minerals Ltd.
Riley Trimble, President & CEO
Telephone: 604-639-3852
Toll-Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@abenminerals.com
Frequently Asked Questions
What is the purpose of Aben's recent private placement?
The funds raised will be used for exploration expenditures and general working capital purposes.
How much capital did Aben Minerals raise?
Aben Minerals successfully raised CAD $316,000 from the private placement.
What are the terms of the issued units in the placement?
Each unit consists of one common share and one full warrant, with the warrant price set at CAD $0.10 for two years.
Who were the recipients of the finder's fees?
The finder's fees were paid to an arm’s-length party, totaling CAD $2,940 along with 42,000 finder’s warrants.
What is Aben Minerals' future outlook?
Aben aims to increase shareholder value through new discoveries and expanding its exploration projects strategically in favorable areas.
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