Aben Resources (TSX-V:ABN, OTCQB:ABNAF) Ltd. said it has increased the unit portion of its non-brokered private placement to up to 7 million units of the company at a price of C$0.035 each.
The adjustment comes after the company said on July 11 that it had arranged a non-brokered private placement of up to 4 million units and 4 million flow-through units for combined total gross proceeds of up to C$340,000.
The company said it will not be proceeding on the flow-through portion of the private placement.
READ: Aben Resources to raise up to C$340,000 in non-brokered private placement
The company said each unit will comprise one common share and one transferable warrant, entitling the holder to purchase one additional common share for a period of two years at C$0.05 each.
The company intends to use the proceeds from this private placement for exploration and for general working capital purposes.
Aben is a graphite and gold exploration company with projects in British Columbia, Ontario, and the Yukon Territory.
Contact the author at jon.hopkins@proactiveinvestors.com