Advanced Explorations Inc. announced that it has received CAD 1 million in funding.
On December 17, 2013, the company announced that it has issued 10,000,000 units for gross proceeds of CAD 500,000 in the first tranche. All securities issued in connection with the first tranche are subject to a four-month hold period that expires on April 18, 2014. The transaction remains subject to final approval of the TSX Venture Exchange.
On February 21, 2014, the company announced that it will issue 10,000,000 units for gross proceeds of CAD 500,000 in the second tranche. The closing of the second tranche remains subject to the conditional approval of the TSX Venture Exchange.
On February 27, 2014, Advanced Explorations Inc. closed the transaction. The company issued 10,000,000 units in its final tranche to Hebei Han-Xing Institute of Mining & Metallurgy Design Co., Ltd. The securities issued in this tranche are subject to a four-month hold period that expires on June 28, 2014. TSX Venture Exchange has accepted for filing documentation. The first and second tranche included participation from three placees.