VANCOUVER, British Columbia, Aug.
21, 2017 (GLOBE NEWSWIRE) -- Aben
Resources Ltd. (TSX-V:ABN) (OTCBB:ABNAF)
(Frankfurt:E2L2) (the "Company") is pleased to announce the closing
of a non-brokered private placement for the aggregate of CAD
$318,119.
The Financing consisted of
2,356,443 units (the "Units") at a price of CAD $0.135 per Unit for
combined total gross proceeds of CAD $318,119. Each Unit purchased
will include one common share as well as one common share purchase
warrant ("Warrant"). Each whole Warrant will entitle the holder to
purchase one additional common share for five (5) years at a price
of CAD $0.18 per common share.
In connection with the financing,
Aben issued a total of 15,555 warrants to finders (the "Finder's
Warrants") who introduced certain subscribers to the private
placement. Each Finder's Warrant will entitle the finder to
purchase one additional common share for two (2) years at a price
of CAD $0.18 per common share. The Company also paid to finders a
total of CAD $2,100 in cash fees associated with this financing.
Shares issued in connection with this private placement and any
shares issued as a result of exercise of warrants will be subject
to a hold period expiring December 22, 2017.
Aben is currently drilling a
2,100m drill program on its flagship property, Forest Kerr. The
23,000-hectare Forrest Kerr Gold Property is located in North
Western British Columbia's Golden Triangle region. Drilling
conducted in the early 1990's and 2000's at these zones returned
some of the highest grades on the Forrest Kerr Property and the
Company feels there is the potential for the expansion of these
known zones based on recent data compilation, structural geological
interpretation and additional field reconnaissance work.
About Aben
Resources:
Aben Resources is a Canadian gold
exploration company developing projects in British Columbia's
Golden Triangle, the Yukon, and Saskatchewan.
For further information on Aben
Resources Ltd. (TSX-V:ABN), visit our Company's web site
at www.abenresources.com.
Aben Resources has approx. 50.0
million shares issued and outstanding.
ABEN RESOURCES LTD.
"Jim Pettit"
____________________________
JAMES G. PETTIT
President & CEO
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.