America Resources settles $150,000 tranche of $360,000 stock placement

Company selling 2.55 million common shares at $0.15, $0.20 per share

By Devika Patel

Knoxville, Tenn., June 22 – America Resources Exploration Inc. raised $150,000 in the initial tranche of a $360,000 private placement of stock on June 19, according to an 8-K filed Monday with the Securities and Exchange Commission. The deal priced on June 12.

The company is selling 2.55 million common shares.

America Resources sold 1 million shares at $0.15 per share in the first tranche and will sell an additional 750,000 shares at $0.20 per share in an Aug. 7 second tranche and another 800,000 shares at $0.20 per share in an Oct. 2 tranche. The prices per share are, respectively, a 25% discount and identical to the June 19 closing share price of $0.20.

The Houston company provides photography services and photo booth rentals.

Issuer:	America Resources Exploration Inc.
Issue:	Common stock
Amount:	$360,000
Shares:	2.55 million
Price:	$0.15 (for 1 million shares), $0.20 (for 1.55 million shares)
Warrants:	No
Announcement date:	June 22
Pricing date:	June 12
Settlement date:	June 19 (for $150,000), Aug. 7 (for $150,000), Oct. 2 (for $160,000)
Stock symbol:	OTCBB: AREN
Stock price:	$0.20 at close June 19
Market capitalization:	$1.67 million

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