An anonymous director reports
ASTON BAY HOLDINGS COMPLETES PRIVATE PLACEMENT WITH ANTOFAGASTA
Further to its news releases of June 18, 2014, June 25, 2014, and Aug. 18, 2014, and pursuant to the memorandum of understanding (MOU) with a wholly owned subsidiary of Antofagasta PLC, Aston Bay Holdings Ltd. has now completed a private placement with Antofagasta for gross proceeds of $250,000 (U.S.). Following the placement, Antofagasta holds approximately 2.5 per cent of the company's total shares outstanding.
In the placement, Antofagasta purchased 761,594 units at 35 Canadian cents per unit. Each unit consists of one common share of the company, as well as one share purchase warrant entitling Antofagasta to acquire one common share, at an exercise price of 55 cents per share, until March 15, 2016. Shares acquired by Antofagasta, and shares which may be acquired upon the exercise of the warrants, are subject to a hold period until Jan. 16, 2015, in accordance with applicable Canadian securities legislation. Funds raised by the placement will be used by the company to advance the Storm copper and Seal zinc projects, and for general corporate purposes.
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