Business
Aston Bay Holdings Closes Second Tranche of $884,000 Private Placement Offering
(via Thenewswire.ca) Vancouver, British Columbia / TheNewswire / March 22, 2016 - Aston Ba...
About this update from Aston Bay Holdings Ltd.
[{"type":"text","content":"Aston Bay Holdings Closes Second Tranche of $884,000 Private Placement Offering(via Thenewswire.ca)\n\n \nVancouver, British Columbia / TheNewswire / March 22, 2016 - Aston Bay Holdings Ltd. (TSX-V: BAY) (\"Aston Bay\" or the \"Company\") is pleased to announce that it has closed the second and final tranche of its non-brokered private placement offering, having issued 1,820,000 common shares at a per share price of $0.20, for gross proceeds of $364,000. The $800,000 offering, as initially announced on February 1, 2016, including the $520,000 first tranche which closed on February 18, 2016, was over-subscribed by 420,000 common shares, for additional gross proceeds to Aston Bay of $84,000.\n\n\n \n\n\n\n \nShares acquired by the placees under the second and final tranche of the offering are subject to a hold period until July 23, 2016, in accordance with applicable Canadian securities legislation.\n\n \n \nAggregate cash finder's fees of $7,140 were paid by Aston Bay to Dalton Dupasquier, Klondike Strike Inc. and Haywood Securities Inc. and finder's fees of $7,700 were satisfied by the issuance to Leede Jones Gable Inc. of 38,500 common shares of the Company at a deemed per share price of $0.20, under agreements with the arm's length parties in connection with certain subscriptions under this second and final tranche of the offering.\n\n\n \n\n\n\n \nNet proceeds of this offering will be used by Aston Bay for advancing the Storm Copper and Seal Zinc Projects and for general corporate purposes. Following closing of this private placement, the Company has 54,772,589 common shares issued and outstanding.\n\n\n \n\n\n\n \nAbout Aston Bay Holdings\n\n \n \nAston Bay Holdings Ltd. (TSX-V: BAY) is a publicly traded mineral exploration company focused on the 395,118-hectare (976,357-acre) Aston Bay Property located on northwest Somerset Island, Nunavut. The Property hosts the Storm Copper and Seal Zinc prospects, where historic drilling has confirmed the presence of sediment-hosted copper and zinc mineralization. \n\n \n \nOn behalf of the Board of Directors,\n\n\n \nBenjamin Cox, Chief Executive Officer\n\n\n \nTelephone: (360) 262-6969\n\n \n \nFor further information about Aston Bay Holdings Ltd or this news release, please visit our website at www.astonbayholdings.com.\n\n \n \nNeither the TSX Venture Exchange Inc. nor its Regulatio...