Ashburton Ventures Inc. Arranges Private Placements
10.11.2014 | Marketwire
VANCOUVER, Nov 10, 2014 - Ashburton Ventures Inc. (TSX VENTURE:ABR) (FRANKFURT:ARB) ("Ashburton" or the "Company") announces that it has arranged a non-brokered private placement of 12.5 million flowthrough units ("FT Units") at a price of $0.02 per Unit for aggregate gross proceeds of $250,000 (the "FT Offering"). Each FT Unit will be comprised of one flowthrough common share ("FT Share") and one non-flowthrough Share purchase warrant of the Company ("Warrant"). Each Warrant will entitle the Subscriber to purchase one Warrant Share for a 12 month period after the Closing Date at an exercise price of $0.05 per share. Flowthrough proceeds raised will be used towards the Company's Hackett property located contiguous to Doubleview Capital Corp.'s Hat Cu-Au porphyry discovery in northwest B.C.'s emerging Sheslay district.The Company further announces it has arranged a non-brokered private placement of 12.5 million common share units ("Units") at a price of $0.02 per Unit for aggregate gross proceeds of $250,000 (the "Offering"). Each Unit will be comprised of one common share ("Share") and one half Share purchase warrant of the Company ("Warrant"). Each full Warrant will entitle the holder to purchase one Share (a "Warrant Share") for a period of 12 months from the closing date at an exercise price of $0.05 per Warrant Share. The non flowthrough funds will be used for general corporate purposes.
Additionally the Company announces that the Company may, in its sole discretion, pay a finders' fee to agents of the Company consisting of: (i) a cash fee in an amount of up to 10% of the proceeds raised by such finder as part of this Offering, and (ii) a number of finder's warrants entitling the holder thereof to purchase that number of Shares of the Company ("Finder's Warrant") that is equal to up to 10% of the number of units placed through the finder as part of this Offering. Each Finder's Warrant will entitle the holder to purchase one Share for a period of 12 months from the closing date at an exercise price of $0.05 per Finder's Warrant.
Ashburton Ventures is a junior exploration company actively seeking mineral opportunities for the benefit of all its stakeholders.
ON BEHALF OF THE BOARD
Michael England
President
Forward-Looking Statements: Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Ashburton Ventures Inc. Actual results may differ materially from those currently anticipated in such statements. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact
Ashburton Ventures Inc.
1-604-683-3995
Toll Free: 1-888-945-4770
www.AshburtonVentures.com