"NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN
THE UNITED STATES"
VANCOUVER, British Columbia, Aug. 15,
2018 (GLOBE NEWSWIRE) -- Aben Resources
Ltd. (TSX-V: ABN) (OTCBB: ABNAF)
(Frankfurt: E2L2) (the "Company") announces a non-brokered
private placement of up to 13,333,333 units at a price of $0.30
each to raise gross proceeds of up to $4,000,000. Each unit
will consist of one common share and one warrant (each, a
"Warrant") exercisable to purchase one additional common share at a
price of $0.45 each for a period of two (2) years from the date of
issuance. The lead order is for $2,000,000 from Eric Sprott who
will subscribe for 6,666,667 million Units. Additionally, Palisade
Global Investments will subscribe for 2,750,000 million Units and
Venture Ad Network will subscribe for 600,000 Units.
Forrest Kerr
Project, Golden Triangle, British Columbia location
map:
https://www.abenresources.com/site/assets/files/4287/fk-003.jpg
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 premiere 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 g/t Au over 6.0m within
38.7 g/t Au over 10.0m from 114.0-124.0m. 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:
Aben Resources is a Canadian gold
exploration company developing projects in British Columbia's
Golden Triangle, Saskatchewan and the Yukon.
For further information on Aben
Resources Ltd. (TSX-V: ABN), visit our Company's web site
at www.abenresources.com.
ABEN
RESOURCES LTD.
"Jim
Pettit"
____________________________
JAMES G. PETTIT
President & CEO
For further information contact
myself or:
Don Myers
Aben Resources Ltd.
Director, Corporate Communications
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@abenresources.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.