Aben Resources arranges $4-million placement

Aug 15, 2018

2018-08-15 07:21 ET – News Release

Mr. Jim Pettit reports

ABEN RESOURCES ANNOUNCES $4 MILLION PRIVATE PLACEMENT LED BY ERIC SPROTT

Aben Resources Ltd. has arranged a non-brokered private placement of up to 13,333,333 units at a price of 30 cents each to raise gross proceeds of up to $4-million. Each unit will consist of one common share and one warrant exercisable to purchase one additional common share at a price of 45 cents each for a period of two years from the date of issuance. The lead order is for $2-million from Eric Sprott who will subscribe for 6,666,667 units. Additionally, Palisade Global Investments will subscribe for 2.75 million units and Venture Ad Network will subscribe for 600,000 units.

Jim Pettit, Aben’s chief executive officer, stated: “Aben Resources is very pleased to welcome Eric Sprott as a large strategic shareholder of the company. Mr. Sprott is one of the world’s premier precious metals investors and a respected leader in the investment community. His participation in this financing speaks to the high-grade discovery and future potential of Aben Resources’ Forest Kerr project in the Golden Triangle region of British Columbia. The company plans to expand its current drill program on the back of the results from the first drill hole in the program at the newly discovered North Boundary zone which intersected four separate high-grade intervals including 62.4 grams per tonne gold over 6.0 m within 38.7 g/t Au over 10.0 m from 114.0 to 124.0 m. With drilling ongoing, Aben is awaiting assay results from an additional seven drill holes, all of which were drilled at the North Boundary zone and will provide updates as results become available.”

The company intends to utilize the proceeds from the private placements to expand its 2018 exploration and drilling program at its Forrest Kerr gold project located in the Golden Triangle, British Columbia, and for 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. Finder fees may be payable in connection with the private placement, all in accordance with the policies of the TSX Venture Exchange.

About Aben Resources Ltd.

Aben Resources is a Canadian gold exploration company developing projects in British Columbia’s Golden Triangle, Saskatchewan and the Yukon.

We seek Safe Harbor.

https://www.abenresources.com/news-releases/2018/