Aston Bay Reprices Financing 58% Lower After Investors Lose Interest

In a sign of the waning interest in its story, Aston Bay Holdings (TSXV: BAY) has been forced to reprice its ongoing brokered financing dramatically lower.

The financing, which was originally announced back on September 5 amid its recent run-up, has been repriced 58% lower following a sharp drop in the share price.

The brokered financing was originally priced at $0.19 per unit, with each unit set to contain one common share and one common share purchase warrant. Warrants were priced at $0.29, and contained a two year expiry. The offering, for proceeds of up to $5.0 million, was expected to see the sale of 26.3 million units.

Under the revised terms, Aston Bay is now looking to sell 47.5 million units for gross proceeds of just $3.8 million. The offering sees units instead sold at $0.08 per each, with each unit again containing one common share and one common share purchase warrant. Warrants meanwhile have been repriced dramatically lower, with the exercise price now at just $0.12 per each, while the expiry remains at two years.

READ: Aston Bay Uses Excitement At Storm Copper Project To Raise Funds For Virginia Assets

The company may raise up to $1.0 million in additional funds via a concurrent non-brokered financing with substantially the same terms.

The funds from the financing notably will be used at the firms Virginia properties, rather than its Storm Copper project which has been the focus of investor attention as of late.

Aston Bay Holdings last traded at $0.065 on the TSX Venture.


Information for this briefing was found via Sedar and the sources mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Baselode Energy To Acquire Forum Energy: The Merger Of Equals Deal

TriStar Gold: The Revised Castelo de Sonhos Prefeasibility Study

Gold is Up 30%, But the Real Bull Market is Only Starting Now! | Adrian Day

Recommended

ESGold To Expand Mine Building At Montauban In Advance Of Gold & Silver Production

Goliath Resources Expands 2025 Drill Program To 60,000 Metres

Related News

Aston Bay Reports 266.3 Million Indicated Pounds Of Copper In Initial Resource Estimate

Aston Bay Holdings (TSXV: BAY) has released an initial mineral resource estimate for its Storm...

Monday, March 3, 2025, 08:06:20 AM

Aston Bay Reports 18.5 Metres Of Visual Copper Sulfide In Fourth Hole At Storm Copper Project

Aston Bay Holdings (TSXV: BAY) is claiming this morning that it has intersected additional visual...

Thursday, August 17, 2023, 09:52:23 AM

Aston Bay Identifies Copper In Surface Samples At Tempest Prospect

Aston Bay Holdings (TSXV: BAY) is reporting success in preliminary exploration conducted at its Storm...

Monday, November 27, 2023, 08:50:53 AM

Aston Bay Intersects 22.9m @ 8.5% Cu in Nunavut’s Storm Project

Aston Bay Holdings Ltd. (TSXV:BAY) and its exploration partner, American West Metals Limited, have announced...

Friday, September 27, 2024, 09:45:08 AM

Aston Bay Holdings Sees American West Metals Fall 21% After Assay Results At Storm Copper Project

Aston Bay Holdings (TSXV: BAY) is expected to experience a rough session on Tuesday following...

Monday, September 4, 2023, 10:34:29 PM