Aston Bay extends private placement closing to March 11
Aston Bay extends private placement closing to March 11
2022-02-16 16:12 ET - News Release
Mr. Thomas Ullrich reports
ASTON BAY HOLDINGS ANNOUNCES EXTENSION OF PRIVATE PLACEMENT
Aston Bay Holdings Ltd. has been granted an extension by the TSX Venture Exchange to complete the previously announced non-brokered private placement of aggregate gross proceeds of up to $2-million, by no later than March 11, 2022.
The offering consists of units at a price of six units per unit, as announced in the company's news release dated Nov. 29, 2021. Each unit will consist of one common share of the company and one full warrant entitling the holder thereof to acquire an additional common share at an exercise price of 12 cents per warrant share for a period of 24 months from the date of issuance. The warrants will be subject to acceleration provisions when the volume-weighted average trading price is greater than 25 cents for 10 consecutive trading days.
As announced in its news release dated Dec. 21, 2021, the company closed the first tranche of the offering, issuing 13,473,500 units for aggregate gross proceeds of $808,410. There can be no assurances that the company will be able to complete the offering. The offering is subject to the final approval of the exchange and all regulatory approvals.
About Aston Bay Holdings Ltd.
Aston Bay is a publicly traded mineral exploration company exploring for gold and base metal deposits in Virginia, United States, and Nunavut, Canada. The company is led by chief executive officer Thomas Ullrich with exploration in Virginia directed by the company's adviser, Don Taylor, the 2018 Thayer Lindsley Award winner for his discovery of the Taylor lead-zinc-silver deposit in Arizona.
The company is currently drilling the Mountain copper-zinc project in Virginia, and conducting initial exploration at the Buckingham gold project (in Virginia).
The company is also 100-per-cent owner of the property Storm project, which hosts the Storm copper project and the Seal zinc deposit and has been optioned to American West Metals Ltd.