Aben Resources (TSX-V:ABN, OTCQB:ABNAF) Ltd said it has arranged a non-brokered private placement of up to 4,000,000 units of the company and 4,000,000 flow-through units for combined total gross proceeds of up to C$340,000.
The company said the proceeds of the private placement would be used for exploration and general working capital purposes.
Each unit, priced at C$0.035, will comprise one share and one transferable warrant entitling the holder to purchase an additional share for a period of two years at C$0.05 per share.
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Each flow-through unit, priced at C$0.05, will comprise one flow-through share and one-half of a transferable warrant. Each whole warrant entitles the holder to purchase one non-flow-through share for a period of two years at C$0.08 per share.
Aben said that finders fees may be payable in connection with the private placement, in accordance with the policies of the TSX Venture Exchange.
The company also noted that it intended to apply for the new Critical Minerals Exploration Flow Through Tax Credit.
Aben Resources (TSX-V:ABN, OTCQB:ABNAF) is a graphite and gold exploration company with projects in British Columbia, Ontario, and the Yukon Territory.
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