Aben Minerals Closes Private Placement
January 16 2024 - 5:30PM
Aben Minerals Ltd.
(TSX-V: ABM) (OTCQB: ABNAF)
(Frankfurt: R26)
(“Aben” or “the Company”) is pleased to announce that it has closed
a non-brokered private placement financing for total gross proceeds
of $300,000 (the “
Private Placement”).
The Company issued 300 unsecured convertible
debentures (the “Debentures”) at a price of $1,000
per Debenture. The Debentures bear a two-year maturity date with
interest at a rate of 12.00% per annum, paid monthly in advance,
payable in cash on the 1st of each month.
Commencing one day after the closing until the
close of business on the sixth day prior to the maturity date, the
Debenture holders shall have the right to convert the Debentures
into units (the “Units”) at a price of $.10 per
Unit. Each Unit will consist of one common share in the capital of
the Company (a “Share”) and one transferable Share
purchase warrant (a “Warrant”), with each Warrant
being exercisable into one Share (a “Warrant
Share”) at a price of $0.15 per Warrant Share for a period
of three years following the issue date.
The Company intends to use the proceeds from the
Private Placement towards general working capital purposes. The
Private Placement is subject to final TSX Venture Exchange
approval, and the Debentures are subject to a
four-month-and-one-day hold period.
About Aben Minerals:
Aben Minerals is a Canadian gold exploration
company with exploration projects in the Yukon Territory and
British Columbia. The Company’s goal is to increase shareholder
value through new discoveries and developing exploration projects
in geopolitically favourable jurisdictions. The Company has 18.7
million shares outstanding.
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For further information on Aben Minerals Ltd. (TSX-V: ABM),
visit our Company’s website at www.abenminerals.com.
ABEN MINERALS LTD.
“Riley Trimble”______________________Riley
TrimblePresident & CEO
For further information contact:Aben Minerals Ltd.Riley Trimble,
President & CEOTelephone: 604-416-2978Toll Free:
800-567-8181Facsimile: 604-687-3119Email: 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.
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