Advanced Explorations Inc. (TSXV:AXI) announced a private placement of interest free convertible debentures from some of its strategic shareholders for gross proceeds of CAD 108,000 on November 5, 2014. The debentures will have a term of two years and has an option to convert into units at a conversion price of CAD 0.05 per unit. Each unit consists of one common share and one warrant.

Each warrant entitles the holder to purchase one common share of the company at an exercise price of CAD 0.10 per share for a period of 24 months from the date of conversion. The transaction is subject to TSX Venture Exchange approval.