Advanced Explorations Inc. (TSXV:AXI) announced a non brokered private placement of 4,500,000 units at a price of CAD 0.05 per unit for gross proceeds of CAD 225,000 on September 27, 2013. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one common share of the company at CAD 0.10 per share for a period of 24 months from the closing date. The transaction is expected to close by October 7th, 2013. Insiders of the company will subscribe for greater than 25% of the transaction. The company will not pay any commission or finder's fees in connection with the transaction.

On October 7, 2013, the company announced that it has amended the terms of the transaction. The company will now issue up to 5,000,000 units for gross proceeds of CAD 250,000. The securities issued in the transaction will be subject to a four-month hold period from the date of closing. The closing of the transaction is subject to, among other things, acceptance from the TSX Venture Exchange.