Business
Aston Bay Holdings Amends Terms of Previously Announced Private Placement
(via Thenewswire.ca) Vancouver, British Columbia / TNW-ACCESSWIRE / June 25, 201 4 - ...
About this update from Aston Bay Holdings Ltd.
[{"type":"text","content":"Aston Bay Holdings Amends Terms of Previously Announced Private Placement(via Thenewswire.ca)\n\n \nVancouver, British Columbia / TNW-ACCESSWIRE / June 25, 2014 - Aston Bay Holdings Ltd. (TSX-V: BAY) (\"Aston Bay\" or the \"Company\") announces that, further to its news release of June 18, 2014, it has revised the terms of its non-brokered private placement as previously announced (the \"Offering\") for gross proceeds of up to US$2 million such that each NFT Unit will now be issued at a per unit price of CDN$0.25 and will consist of one common share and one share purchase warrant (the \"NFT Warrant\"). Each NFT Warrant will entitle the holder thereof to acquire one additional common share for a period of 18 months from closing of the Offering, at a price of CDN$0.40 per share, subject to accelerated expiry terms, as described below.\n\n \n \nIn addition, each FT Unit will now be issued at a per unit price of CDN$0.30 and will consist of one \"flow-through\" common share and one-half of one share purchase warrant (the \"FT Warrant\"). Each whole FT Warrant will entitle the holder thereof to acquire one additional non-flow-through common share for a period of 18 months from closing of the Offering, at a price of CDN$0.40 per share. \n\n \n \nThe FT Warrants and NFT Warrants will be subject to the Company's right to accelerate the expiry of the same to within 30 calendar days of notice thereof if the daily volume weighted average trading price of the common shares of the Company on the TSX Venture Exchange is equal to or exceeds CDN$0.80 over a period of 20 consecutive trading days between the date that is four months following the closing of the Offering and the date on which the FT Warrants and/or the NFT Warrants, as applicable, would otherwise expire. Such notice is to be given within five trading days of such 20-day period.\n\n \n \nIn addition to the above Offering, as previously announced on June 18, 2014, the Company will also issue to an arms' length investor such number of NFT Units (the \"Arms' Length NFT Units\") of Aston Bay at a per unit price of CDN$0.40 that amounts to gross proceeds of US$250,000. The Arms' Length NFT Units shall have the same terms as the NFT Units described in the June 18, 2014 news release.\n\n \n \nEach Arms' Length NFT Unit will consist of one common share and one common share purchase warrant...