VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 3, 2017) -
Not for distribution to United States newswire services or for dissemination in the United States
AsiaBaseMetals Inc. (the "Company") (TSX VENTURE:ABZ) is pleased to announce that it has completed its previously announced non-brokered private placement for aggregate proceeds of $19,500. The Company issued a total of 65,000 common flow-through shares ("Flow-Through Shares") at a price of $0.30 share.
No finder's fees or commissions were paid in connection with the private placement.
In accordance with transfer restrictions under applicable securities laws, the Flow-Through Shares are subject to a hold period until March 4, 2018.
A director of the Company acquired securities in the private placement. Accordingly, the private placement is considered to be a "related party transaction" as defined under Multilateral Instrument 61-101 ("MI 61-101"). The transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the Flow-Through Shares issued to or the consideration paid by such persons exceeded 25% of the Company's market capitalization.
The Company did not file a material change report more than 21 days before the expected closing of the private placement as the details of the private placement and the participation by the related party was not settled until shortly prior to closing and the Company wished to close the private placement on an expedited basis for sound business reasons.
The proceeds from the sale of the Flow-Through Shares will be expended on the Company's exploration on the Jean Iron Ore Project in Ontario.
For more information please email info@asiabasemetals.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact
AsiaBaseMetals Inc. Raj Chowdhry Chief Executive Officer info@asiabasemetals.com
Für den Inhalt des Beitrages ist allein der Autor verantwortlich bzw. die aufgeführte Quelle. Bild- oder Filmrechte liegen beim Autor/Quelle bzw. bei der vom ihm benannten Quelle. Bei Übersetzungen können Fehler nicht ausgeschlossen werden. Der vertretene Standpunkt eines Autors spiegelt generell nicht die Meinung des Webseiten-Betreibers wieder. Mittels der Veröffentlichung will dieser lediglich ein pluralistisches Meinungsbild darstellen. Direkte oder indirekte Aussagen in einem Beitrag stellen keinerlei Aufforderung zum Kauf-/Verkauf von Wertpapieren dar. Wir wehren uns gegen jede Form von Hass, Diskriminierung und Verletzung der Menschenwürde. Beachten Sie bitte auch unsere AGB/Disclaimer!
