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Aston Bay Holdings Announces Extension of Private Placement
TORONTO, ON / ACCESSWIRE / July 17, 2023 / Aston Bay Holdings Ltd. (TSX-V:BAY)(OTCQB:ATBHF) ("As...
About this update from Aston Bay Holdings Ltd.
[{"type":"text","content":"Aston Bay Holdings Announces Extension of Private PlacementTORONTO, ON / ACCESSWIRE / July 17, 2023 / Aston Bay Holdings Ltd. (TSX-V:BAY)(OTCQB:ATBHF) (\"Aston Bay\" or the \"Company\") announces that the Company has been granted an extension by the TSX Venture Exchange (\"TSX-V\") to complete the previously announced (see news release dated May 17, 2023) non-brokered private placement (the \"Offering\") of aggregate gross proceeds of up to $2,000,000, by no later than August 15, 2023. In addition, the Aston Bay plans to consolidate the Company's common shares (\"Common Shares\") on the basis of one (1) new post-consolidation Common Share for every four (4) pre-consolidation Common Shares (the \"Consolidation\") in connection with the closing of the Offering.The Offering consists, on a post-Consolidation basis, of units (the \"Units\") at a price of $0.15 per Unit. Each Unit will consist of one Common Share and one-half warrant (each whole warrant, a \"Warrant\"), with each Warrant entitling the holder thereof to acquire an additional Common Share (the \"Warrant Share\") at an exercise price of $0.32 per Warrant Share for a period of 18 months from the date of issuance. The net proceeds of the offering will be used for exploration on the Company's gold and base metals projects in Virginia, and other potential projects in the USA and for general working capital purposes.The Company anticipates that current insiders of the Company may participate in the Offering. Subject to Exchange approval, finder's fees may be paid to persons who introduce the Company to investors. The Offering may be closed in one or more tranches as subscriptions are received.All securities issued pursuant to the Offering will be subject to statutory hold periods in accordance with applicable United States and Canadian securities laws.The securities offered have not been registered under the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\"), or any state securities laws and may not be offered or sold absent registration or compliance with an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws.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 TSX-V and all regulatory approvals.See...