Advanced Explorations Inc. ADEXF

Over-Subscription: LOL

[Thinkdifferent]

October 07, 2013 17:06 ET Advanced Explorations Inc. Announces Over-Subscription of Private Placement TORONTO, ONTARIO--(Marketwired - Oct. 7, 2013) - Advanced Explorations Inc. (the "Company" or "AEI") (TSX VENTURE:AXI) (FRANKFURT:AE6) announced today that the private placement previously announced on September 27, 2013 has been over-subscribed. The Company now proposes to issue up to 5,000,000 units ("Units") at a price of $0.05 per Unit for gross proceeds up to $250,000 (the "Offering"). Each Unit is comprised 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. The securities issued under the private placement will be subject to a four-month hold period from the date of closing. The closing of the private placement is subject to, among other things, acceptance from the TSX Venture Exchange. As AEI anticipates that insiders of the Company will subscribe for greater than 25% of the private placement, the issuance of shares to insiders pursuant to the private placement is considered to be a related party transaction subject to TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 ("MI 61-101"). The Company intends to rely on exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(a) of MI 61-101 in respect to insider participation. No commission or finder's fee will be paid in connection with the private placement. ON BEHALF OF THE BOARD Bernie Swarbrick, Acting President