Aben Resources Closes 1st TrancheAben Resources Closes 1st Tranche of Private Placement Financing
Aben Resources Ltd. (TSX VENTURE:ABN) (OTCBB:ABNAF) (FRANKFURT:E2L2) (the "Company") is pleased to announce, further to its news release of November 09th, the Company has closed the first tranche of its non-brokered private placement financing and has raised $139,250.00 by the issuance of 7,278,965 Units (the "Units") at a deemed price of $0.05 per Unit. Each Unit consists of one common share and one non-transferrable share purchase warrant (the "Warrant"). Each Warrant entitles the holder to purchase one additional common share at a price of $0.055 per share for a period of five years expiring December 21, 2020. Shares issued in connection with this private placement including any shares issued as a result of the exercise of any Warrants will be subject to a four month hold period expiring April 22, 2016. Ron Netolitzky, Jim Pettit and Tim Termuende, insiders of the Company, purchased 100,000, 200,000 and 100,000 Units respectively.
Proceeds of this private placement will be utilize to evaluate new business opportunities for Aben and for general working capital purposes.
The private placement is subject to TSX Venture Exchange acceptance.
About Aben Resources:
Aben Resources is a Canadian uranium and gold exploration company with projects in Saskatchewan's Athabasca Basin, Yukon, and NWT.
For further information on Aben Resources Ltd. (TSX VENTURE:ABN), visit our Company's web site at www.abenresources.com.
Aben Resources has approx. 4.5 million shares issued and outstanding.
ABEN RESOURCES LTD.
JAMES G. PETTIT, President
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.