New Issue: Advanced Explorations closes C$4.97 million private placement of units

By Devika Patel

Knoxville, Tenn., Sept. 27- Advanced Explorations Inc. announced it has raised C$4,972,009.30 in a non-brokered private placement of units. The deal priced on Sept. 27 for C$5 million.

The company sold 3,429,034 units, down from a planned 3,448,276 units, at C$1.45 each. Each unit consists of one common share and one half share warrant. Each whole warrant is exercisable at C$2.00 for two years.

Advanced Explorations paid a $397,768 commission and 274,323 compensation warrants which are exercisable at C$1.45 for two years.

Advanced Explorations is a Toronto-based petroleum and mineral exploration company.

Issuer:	Advanced Explorations Inc.
Issue:	Units of one common share and one half share warrant
Amount:	C$4,972,009.30
Units:	3,429,034
Price:	C$1.45
Warrants:	One half warrant per unit
Warrant strike price:	C$2.00
Warrant expiration:	Two years
Fees:	$397,768; 274,323 compensation warrants
Pricing date:	Sept. 27
Settlement date:	Oct. 15
Stock symbol:	TSX Venture: AXI
Stock price:	C$1.50 at close Sept. 26

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.