New Issue: Advanced Explorations seals C$2.02 million of C$3.74 million units sale

By Devika Patel

Knoxville, Tenn., May 19 - Advanced Explorations Inc. said it settled a C$2.02 million tranche of a C$3.74 million non-brokered private placement of units.

The company is selling 17 million units at C$0.22 apiece. It sold 9,199,545 units in this tranche. 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
Settlement date:	May 19 (for C$2,023,900)
Stock symbol:	TSX Venture: AXI
Stock price:	C$0.235 at close April 29
Market capitalization:	C$14.2 million

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