Aston Bay Holdings Ltd. (TSXV:BAY) closed the first tranche of its non-brokered private placement for gross proceeds of $156,000. 52 non-flow-through (NFT) units were issued at a price of $3,000 per NFT Unit.
As quoted in the press release:
Pursuant to this first tranche of the offering (the “Offering”), the Company has issued a total of 52 non-flow-through units (the “NFT Units”) at a price of $3,000 per NFT Unit, for gross proceeds of $156,000. Each NFT Unit consists of 20,000 non-flow-through common shares of the Company (the “NFT Shares”) priced at $0.15 and 10,000 Warrants. Each Warrant entitles the holder to acquire an additional NFT Share at a price of $0.30 per NFT Share until November 8, 2015, subject to accelerated expiry in certain circumstances.