Mr. Thomas Ullrich reports
ASTON BAY HOLDINGS FILES AMENDED OFFERING DOCUMENT AND REFILES INTERIM FINANCIAL STATEMENTS
Aston Bay Holdings Ltd. has filed an amended offering document under the listed issuer financing exemption, which reflects a correction to a date in Part 7. The company also refiled its condensed interim financial statements for the nine months Dec. 31, 2023, to reflect two corrections to Note 5 -- Share Capital in respect of the warrants. The first correction was to a typographical error in the number of warrants issued on Oct. 5, 2023, which was 31,297,375 instead of 13,297,375. The second correction was to reflect that the warrants expiring on Dec. 31, 2023, had expired instead of being outstanding. Other than these changes, and the resulting change to the aggregate number of warrants outstanding, there were no other changes to the financial statements and the refiled financial statements replace and supersede the previously filed interim financial statements in respect of the same period filed on Feb. 28, 2024.
About Aston Bay Holdings Ltd.
Aston Bay is a publicly traded mineral exploration company exploring for high-grade copper and gold deposits in Virginia, United States, and Nunavut, Canada. The company is led by CEO Thomas Ullrich with exploration in Virginia directed by the company's adviser, Don Taylor, the 2018 Thayer Lindsley Award winner for his discovery of the Taylor Pb-Zn-Ag deposit in Arizona. The company is currently exploring the high-grade Buckingham gold vein in central Virginia and is in advanced stages of negotiation on other lands with high-grade copper potential in the area.
The company and its joint venture partners, American West Metals and its wholly owned subsidiary, Tornado Metals Ltd., have agreed to form a 20/80 unincorporated joint venture and enter into a joint venture agreement in respect of the Storm project property, which hosts the Storm copper project and the Seal zinc deposit. Under such agreement, Aston Bay shall have a free carried interest until American West has made a decision to mine upon completion of a bankable feasibility study, meaning American West will be solely responsible for funding the joint venture until such decision is made. After such decision is made, Aston Bay will be diluted in the event it does not elect to contribute its proportionate share and its interest in the Storm project property will be converted into a 2-per-cent net smelter return royalty if its interest is diluted to below 10 per cent.
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