Dilution, Dilution, DilutionAnother 115k shares every month for Haywood. For what? Looks like the JV is far away from here?
TORONTO, ONTARIO--(Marketwired - July 3, 2013) - Advanced Explorations Inc. (the "Company" or "AEI") (TSX VENTURE:AXI)(FRANKFURT:AE6) today announced that the TSX Venture Exchange (the "TSX-V") has approved the previously announced issuance of 1,250,000 common shares to Haywood Securities Inc. ("Haywood") (see AEI press release of June 17, 2013). Accordingly, the Company has issued 1,250,000 common shares to Haywood at a deemed price of $0.0525 per share in consideration for services rendered to date. The foregoing shares are subject to a statutory four-month hold period in accordance with applicable securities laws.
Additionally, as consideration for ongoing advisory services provided by Haywood pursuant to the engagement agreement, the Company will issue 115,000 shares each month to Haywood, subject to approval by the TSX-V and compliance with all applicable regulatory requirements. The deemed price of the shares to be issued shall be determined at the payment date immediately following the month for which services were rendered.