Aston Bay Holdings Ltd. (TSXV:BAY) announced a non-brokered private placement of 12,500,000 units at CAD 0.08 per unit for gross proceeds of CAD 1,000,000 on October 8, 2019. Each unit consists of one common share and one warrant entitling the holder thereof to acquire an additional common share at an exercise price of CAD 0.15 per warrant share for a period of 24 months from the date of issuance. The warrants will be subject to acceleration provisions when the volume weighted average trading price is greater than CAD 0.30 for 10 consecutive trading days. The transaction is expected to close during the month of October 2019. The transaction may include participation from insiders of the company. The company may pay finders' fees in the transaction. All securities are subject to a hold period of four months plus one day from the date of completion of the transaction. The transaction is subject to approval of the TSX Venture Exchange.