By Devika Patel
Knoxville, Tenn., June 13 - Advanced Explorations Inc. said it will conduct a private placement of stock for at least C$12 million.
The company will sell common shares at C$3.00 each for C$4 million and at C$4.00 each for C$4 million. The remaining shares will be sold at a minimum of C$4 per share for at least C$4 million.
The company will pay a 10% finder's fee in cash, shares or both.
Advanced Explorations is a Toronto-based petroleum and mineral exploration company.
| Issuer: | Advanced Explorations Inc.
|
| Issue: | Common shares
|
| Amount: | C$12 million (minimum)
|
| Price: | C$3.00 (for C$4 million), C$4.00 (for C$4 million), at least C$4.00 (for at least C$4 million)
|
| Fees: | 10% in cash or shares
|
| Pricing date: | June 13
|
| Stock symbol: | TSX Venture: AXI
|
| Stock price: | C$1.74 at close June 13
|
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