TORONTO, ON / ACCESSWIRE / May 3, 2024 / Aston Bay Holdings Ltd. (TSX-V:BAY)(OTCQB:ATBHF) ("Aston Bay" or the "Company") advises that it 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 December 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 October 5, 2023, which was 31,297,375 instead of 13,297,375. The second correction was to reflect that the warrants expiring on December 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 February 28, 2024.
About Aston Bay Holdings
Aston Bay is a publicly traded mineral exploration company exploring for high-grade copper and gold deposits in Virginia, USA, and Nunavut, Canada. The Company is led by CEO Thomas Ullrich with exploration in Virginia directed by the Company's advisor, 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 Storm Project property and Epworth property in Nunavut, as well as the high-grade Buckingham Gold Vein and critical metals prospects 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 Limited and its wholly-owned subsidiary, Tornado Metals Ltd. (collectively, "American West") 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% net smelter returns royalty if its interest is diluted to below 10%.
Further details are available on the Company's website at https://astonbayholdings.com/.
The Company's public disclosure documents are available on www.sedarplus.ca.
Neither TSX Venture Exchange nor its regulation services provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
FOR ADDITIONAL INFORMATION CONTACT:
Thomas Ullrich, Chief Executive Officer
thomas.ullrich@astonbayholdings.com
(416) 456-3516
SOURCE: Aston Bay Holdings Ltd.
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