By Devika Patel
Knoxville, Tenn., April 30 - Advanced Explorations Inc. said it arranged a C$3.74 million non-brokered private placement of units.
The company will sell 17 million units at C$0.22 apiece. Each unit consists of one common share and one warrant, with each warrant exercisable at C$0.40 for one year.
Advanced Explorations is a Toronto-based petroleum and mineral exploration company.
| Issuer: | Advanced Explorations Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$3.74 million
|
| Units: | 17 million
|
| Price: | C$0.22
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.40
|
| Agent: | Non-brokered
|
| Pricing date: | April 30
|
| Stock symbol: | TSX Venture: AXI
|
| Stock price: | C$0.235 at close April 29
|
| Market capitalization: | C$17.4 million
|
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