Aben Minerals Closes Over Subscribed Private Placement
Vancouver, BC, Feb. 07, 2025 (GLOBE NEWSWIRE) — Aben Minerals Ltd. (TSX-V: ABM) (OTCQB: ABNAF) (Frankfurt: R26) (“Aben” or “the Company”) announces that it has closed a non-brokered private placement financing for total gross proceeds of CAD $316,000 (the “Private Placement”). This relates to the News Release dated January 20th 2025.
Aben has allotted and issued 4,514,286 units (the “Units”) at a price of CAD $0.07 per Unit. Each Unit is comprised of one common share and one full warrant (the “Warrants”). Each Warrant will entitle the holder to purchase one common share for a period of two (2) years at a price of CAD $0.10 per share.
In addition, the Company has paid finder’s fees of $ $2,940 and issued 42,000 finder’s warrants (the “Finder’s Warrants”) to an arm’s-length party. Each Finder’s Warrant is exercisable into one common share for a period of up to two (2) years at a price of CAD $0.10.
The Company intends to use the proceeds from this private placement towards exploration expenditures and general working capital purposes. The private placement is subject to TSX Venture Exchange approval, and all securities are subject to a four-month-and-one-day hold period.
A portion of the Private Placement constitutes a “related party transaction” as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is relying on the exemptions under section 5.5(a) and section 5.7(1)(a) from the formal valuation and minority shareholder approval requirements of MI 61-101, as the fair market value of the shares issued to the related party does not exceed 25% of the Company’s market capitalization, as determined in accordance with MI 61-101.
About Aben Minerals:
Aben Minerals is a Canadian gold exploration company with exploration projects in the Yukon Territory and British Columbia. The Company’s flagship, the 7,400-hectare, 100% owned Justin Gold Project is located in the southeast Yukon in the Tintina Gold Belt adjacent to Seabridge Gold’s 3 Aces Project. Aben Minerals also owns 100% of the Forrest Kerr Gold Project located in the Golden Triangle of British Columbia and shares claims borders with Skeena’s KSM Project, and Seabridge Gold’s Iskut Project.
The Company’s goal is to increase shareholder value through new discoveries and developing exploration projects in geopolitically favourable jurisdictions.
For further information on Aben Minerals Ltd. (TSX-V: ABM), visit our Company’s website at www.abenminerals.com.
ABEN MINERALS LTD.
“Riley Trimble”
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Riley Trimble
President & CEO
For further information contact:
Aben Minerals Ltd.
Riley Trimble, President & CEO
Telephone: 604-639-3852
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@abenminerals.com
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.
