Aston Hill Private Placement

Calgary, June 6, 2008 - Aston Hill Financial Inc. (the "Company" or "Aston Hill") (TSXV: AHF) is pleased to announce that, subject to TSX Venture Exchange acceptance, the Company has completed the first closing in respect of its previously announced private placement to subscribers in Alberta, British Columbia, Ontario, and Quebec (the "Private Placement") by issuing 7,878,762 common shares (the "Shares") at a price of $0.42 per Share for gross proceeds of $3,309,080 (the "Closing Amount"). The proceeds of the financing will be used for general working capital and to advance the Company's business plans.

Directors and officers of the Company and of the Company's subsidiaries subscribed for 3,719,047 Shares, representing $1,562,000 or approximately 47.2% of the Closing Amount. No fees were payable in connection with such subscriptions. The Private Placement was reviewed by the independent directors of the Company who determined that the terms of the Private Placement were reasonable in the circumstances. The Private Placement is exempt from the valuation and minority approval requirements of Multilateral Instrument 61-101, since the fair market value of the Private Placement is less than 25% of the market capitalization of the Company. Management determined that it was desirable to conduct the first closing of the Private Placement within 21 days from the date that the terms of the Private Placement were first disclosed.

The Private Placement remains subject to final approval from the TSX Venture Exchange. The Shares issued pursuant to this Private Placement will be subject to a four month statutory hold period. The Company may conduct subsequent closings in relation to the Private Placement.

Aston Hill is an investment manager with expertise in the oil and gas sector, energy-based trusts, oil and gas property management, private equity and high-yield structured products.

Forward-Looking Statements: This news release contains certain "forward-looking statements" within the meaning of such statements under applicable securities law. Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or
making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements, including the risk that the Private Placement is not approved, in whole or in part, by the TSX Venture Exchange, and the possibility that subsequent closings are not completed in relation to the Private Placement.

For a detailed description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's annual financial statements and management discussion and analysis for the year ended December 31, 2007, both of which are available at www.sedar.com. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking statements.

For further information concerning this press release, please contact:

Eric Tremblay
Chief Executive Officer
Aston Hill Financial Inc.
(403) 770-4817

Larry Titley
Vice President and CFO
Aston Hill Financial Inc.
(403) 770-4808

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this release.

 

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