Aston Bay Holdings Announces Closing of First Tranche of Private Placement

About this update from Aston Bay Holdings Ltd.

[{"type":"text","content":"Aston Bay Holdings Announces Closing of First Tranche of Private Placement(via Thenewswire.ca)\n\n \nVancouver, British Columbia / TNW-ACCESSWIRE / December 31, 2014 / Aston Bay Holdings Ltd. (TSX-V: BAY) (\"Aston Bay\" or the \"Company\") is pleased to announce that it has received conditional acceptance from the TSX Venture Exchange (the \"Exchange\") for the proposed first tranche closing of the Company's non-brokered private placement, previously announced on December 12, 2014 (the \"Offering\").\n\n\n \n\n\n\n \nPursuant to this first tranche of the Offering, the Company has issued 171,100 non-flow-through units (each a \"NFT Unit\") at a price of $0.15 per NFT Unit, and 352,221 flow-through units (each a \"FT Unit\") at a price of $0.18 per FT Unit, for aggregate gross proceeds of $89,050. \n\n\n \n\n\n\n \nNFT Units and FT Units continue to be available as part of the Offering, for additional gross proceeds of up to $270,950. Each NFT Unit consists of one common share of the Company and one-half of one warrant (a whole warrant being referred to as a \"Warrant\"). Each FT Unit consists of one flow-through common share and one-half of one Warrant. Each full Warrant will entitle the holder thereof to acquire an additional non-flow-through common share of the Company at an exercise price of $0.30 per Warrant for a period of 24 months from the date of issuance, subject to accelerated expiry in certain circumstances.\n\n\n \n\n\n\n \nIn connection with the closing of the first tranche of the Offering, Aston Bay has paid a cash finder's fee of $3,528 to an arm's length finder, representing 7% of the proceeds raised from a subscription by an individual introduced by the finder, and has issued to the finder share purchase warrants (the \"Finder's Warrants\") entitling the purchase of an aggregate 19,600 common shares at a per-share price of $0.30 for a period of 24 months from the date of issuance, also subject to accelerated expiry in certain circumstances\n\n \n \nAll shares acquired by the placees under the first tranche of the Offering, and shares which may be acquired upon the exercise of the Warrants and the Finder's Warrants, are subject to a hold period until May 1, 2015, in accordance with applicable Canadian securities legislation.\n\n \n \nProceeds of this Offering will be used for advancing the Storm Copper and Seal Zi...

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