VANCOUVER, British Columbia, Dec. 19, 2017 (GLOBE NEWSWIRE) -- Aben Resources Ltd. (ABN.V) (ABNAF) (E2L2.F) (the “Company”) announces, further to its News Release on December 18th, that the Company has increased its flow-through private placement to up to 4,333,333 Flow-Through Units at a price of $0.15 per Flow-Through Unit to raise gross proceeds of up to $650,000. Each Flow-Through Unit consists of one flow-through share and one share purchase Warrant entitling the holder to purchase an additional non-flow-through common share at a price of $0.20 for a period of one year. The Company has also increased its non-brokered non-flow-through private placement to up to 1,851,852 Units at a price of $0.135 per Unit to raise gross proceeds of up to $250,000. Each Unit consists of one common share and one share purchase Warrant entitling the holder to purchase an additional common share at a price of $0.18 for a period of one year.
A finder's fee in the amount of 7% cash and 7% warrants may be paid in connection with part of this private placement offering. The private placement is subject to TSX Venture Exchange acceptance.
The Company intends to utilize the proceeds from the private placements for an upcoming 2018 exploration and drilling program at its Chico Gold Project in Saskatchewan and for general working capital purposes.
Chico Gold Project, Saskatchewan location map:
About Aben Resources:
Aben Resources is a Canadian gold exploration company developing projects in British Columbia’s Golden Triangle, Saskatchewan and the Yukon.
Aben Resources has approx. 53.2 million shares issued and outstanding.
ABEN RESOURCES LTD.
JAMES G. PETTIT
President & CEO
For further information contact:
Aben Resources Ltd.
Director, Investor Relations
Toll Free: 800-567-8181
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.