Aben Gold closes CAD $1.3M flow-through private placement

Aben Gold Corp. (TSX-V: ABM, OTCID: ABNAF, Frankfurt: ML1) has closed a non-brokered private placement financing, raising gross proceeds of CAD $1,334,000 through the issuance of flow-through units, according to a press release from the company.

The company issued 6,670,000 units at CAD $0.20 per unit. Each unit consists of one flow-through common share and one-half of one transferable warrant. Each whole warrant allows the holder to purchase one non-flow-through common share at CAD $0.30 for a period of two years, subject to accelerated expiry if the company's share price closes at or above CAD $0.50 for 10 consecutive trading days after the statutory hold period expires.

Aben Gold paid CAD $50,750 in finder's fees and issued 253,750 non-transferable finder's warrants to arm's-length parties, each exercisable at CAD $0.30 per share for two years.

The company intends to use the proceeds for exploration and an upcoming drilling program at its Justin Gold Tungsten Project in the Yukon Territory. The gross proceeds from the flow-through shares will be used to incur eligible Canadian exploration expenses by December 31, 2027, with qualifying expenditures to be renounced in favor of subscribers effective December 31, 2026.

All securities issued are subject to a four-month-and-one-day hold period under Canadian securities laws. Certain related parties participated in the placement, with the company relying on exemptions under Multilateral Instrument 61-101, as the fair market value of units issued to related parties does not exceed 25% of the company's market capitalization.

Aben Gold currently has 28.3 million shares outstanding and CAD $3.6 million in its treasury.

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