Aston Bay Holdings (BAY-V) non-brokered financing oversubscribed, insiders of the company have subscribed for the entire offering.
Oct 30, 2013 - News Release
The non-flow-through portion of Aston Bay Holdings Ltd.'s non-brokered private placement previously announced on Oct. 15, 2013, has been oversubscribed. The company now proposes to issue, subject to approval of the TSX Venture Exchange, up to 52 non-flow-through units at a price of $3,000 per non-flow-through unit for gross proceeds of up to $156,000. Each non-flow-through unit consists of 20,000 non-flow-through common shares of the company priced at 15 cents and 10,000 warrants. Each warrant will entitle the holder to acquire an additional non-flow-through share at a price of 30 cents per non-flow-through share for a period of two years from the date of issuance, subject to accelerated expiry in certain circumstances. Insiders of the company have subscribed for the entire offering.The company is also proceeding with the flow-through portion of the private placement announced on Oct. 15, 2013.
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