Advanced Explorations Inc. announced that it has received CAD 0.25 million in funding.
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.
On October 15, 2013, Advanced Explorations Inc. closed the transaction. The company issued a total of 4,940,000 units for gross proceeds of CAD 247,000 in the transaction. The transaction included participation from 5 placees. Insiders, James Douglas Excell subscribed 100,000 shares, Bernard Swarbrick subscribed 100,000 shares, Robert Telewiak subscribed 100,000 shares, John Gingerick subscribed 800,000 shares, Raziel Ziosman subscribed 100,000 shares, Louis Nagy subscribed 100,000 shares, Brendan Purdy subscribed 80,000 shares in the transaction. The securities issued in the transaction will be subject to a four-month hold period expiring on February 12, 2014.