VANCOUVER, British Columbia, Nov. 01, 2016 (GLOBE NEWSWIRE) -- Aben Resources Ltd. (TSX-V:ABN)
(OTCBB:ABNAF) (Frankfurt:E2L2) (the “Company”) is pleased to announce that it completed today its previously announced non-brokered
private placement of units ("Units") for gross proceeds of $700,000 (the "Offering").
Pursuant to the Offering, the Company issued 9,333,333 Units at $0.075 per Unit. Each Unit consists of one
Common Share and one non-transferrable Share Purchase Warrant (a "Warrant"). Each Warrant entitles the holder to acquire one
additional Common Share at an exercise price of $0.10 per warrant exercised for a period of two years expiring November 2,
2018.
In connection with the Offering, the Company paid $15,715 in cash finder's fees and issued 209,533 finder's
warrants (“Finder’s Warrants”) to qualified arm's length finders. Each Finder's Warrant entitles the holder to acquire one
additional Unit at an exercise price of $0.10 for a period of two years expiring November 2, 2018.
The Company intends to utilize the proceeds from the Offering for further exploration on its Forrest Kerr Gold
Project located in B.C.’s Golden Triangle region, new property evaluation and for general working capital purposes.
The securities issued pursuant to the Offering and any shares issuable upon exercise of warrants will be subject
to a statutory four month and one day hold period expiring March 3, 2017.
B.C.'s Golden Triangle map:
http://www.abenresources.com/i/maps/ABN_Golden_Triangle_map.jpg
About Aben Resources Ltd.:
Aben Resources Ltd. is a Canadian gold exploration company developing projects in British Columbia, the Yukon
and North West Territories.
For further information on Aben Resources Ltd. (TSX-V:ABN), visit our Company’s web site at www.abenresources.com.
ABEN RESOURCES LTD.
“Jim Pettit”
____________________________
JAMES G. PETTIT
President & CEO
For further information contact myself or:
Don Myers
Aben Resources Ltd.
Corporate Communications
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@abenresources.com
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.
This release includes certain statements that may be deemed to be "forward-looking statements". All statements
in this release, other than statements of historical facts, that address events or developments that management of the Company
expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements
are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments
may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these
forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could
cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and
development successes, continued availability of capital and financing, and general economic, market or business conditions. Please
see the public filings of the Company at www.sedar.com for further information.
