GREY:ADEXF - Post by User
Post by
Thinkdifferenton Dec 17, 2013 12:36pm
258 Views
Post# 22014253
Another one
Another one Advanced Explorations Inc. Announces Closing of First Tranche of Non-Brokered Private Placement
TORONTO, ONTARIO--(Marketwired - Dec. 17, 2013) - Advanced Explorations Inc. (the "Company" or "AEI") (TSX VENTURE:AXI) (FRANKFURT:AE6) is pleased to announce that it has closed the first tranche of the non-brokered private placement previously announced on November 11, 2013. Pursuant to the first tranche, a total of 10,000,000 units (the "Units") were sold at a price of $0.05 per Unit for gross proceeds of $500,000. Each Unit consists of one common share of the Company and one common share purchase warrant ("Warrant"), with each Warrant being exercisable to acquire one common share of the Company at a price of $0.10 for a period of 24 months following the closing date of the Offering.
All securities issued in connection with the first tranche are subject to a four-month hold period that expires on April 18, 2014. The private placement remains subject to final approval of the TSX Venture Exchange.
source: marketwired