Aston Bay Holdings Closes Final Tranche of Non-brokered Private Placement for $4,130,460 Total Proceeds

Aston Bay Holdings Ltd. (TSX-V:BAY)(OTCQB:ATBHF) has finalized the last tranche of its non-brokered private placement, initially announced on April 24, 2024, generating gross proceeds of $612,600. The company issued 230,000 non-flow through units at $0.12 per unit and 3,900,000 flow-through shares at $0.15 per share. The total proceeds from the offering amount to $4,130,460.

CEO Thomas Ullrich contributed by purchasing 500,000 FT shares, leading to related party considerations. Aston Bay avoided formal valuation and minority shareholder approval as the transaction value was below 25% of market capitalization. Additionally, a finder's fee of $30,600 was paid.

Funds will support exploration and development in Nunavut, Canada, and Virginia, USA. The issued securities are under a hold period until October 21, 2024, following Canadian legislation. Further details are available in the offering document on Aston Bay's SEDAR+ profile.