Vancouver, BC -- Aben Resources Ltd. (TSX-V: ABN) (OTCBB: ABNAF) (Frankfurt: E2L2) (the "Company") announces a non-brokered private placement of up to 5,000,000 Units at a price of $0.10 per Unit to raise gross proceeds of up to $500,000. Each Unit will consist of one share and one share purchase Warrant entitling the holder to purchase an additional common share at a price of $0.15 for a period of three and one half years.
Aben also announces a non-brokered private placement of up to 6,000,000 flow-through Units at a price of $0.125 per flow-through Unit to raise gross proceeds of up to $750,000. Each flow-through Unit will consist of one flow-through share and one share purchase Warrant entitling the holder to purchase an additional non flow-through share at a price of $0.15 for a period of three and one half years.
A finder's fee in the amount of 7% cash and 7% warrants may be paid in connection with part of these private placement offerings.
The Company intends to utilize the proceeds from these private placements for a 2017 exploration and drilling program at its Forrest Kerr Gold Project located in B.C.'s Golden Triangle region and for general working capital purposes.
The private placements are subject to TSX Venture Exchange acceptance.
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. 34.7 million shares issued and outstanding.
ABEN RESOURCES LTD.
JAMES G. PETTIT
President & CEO
For further information contact:
Aben Resources Ltd.
Toll Free: 800-567-8181
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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