Ashburton Ventures Inc.: Arranges Flow Through Private Placement
03.05.2016 | FSCwire
Vancouver - Ashburton Ventures Inc. (TSX-V: ABR) (ARB-FRANKFURT) (“Ashburton” or the "Company”) announces that it has arranged a non-brokered private placement of 12 million flow through units ("FT Units") at a price of $0.05 per Unit for aggregate gross proceeds of $600,000 (the "FT Offering"). Each FT Unit will be comprised of one flow through common share ("FT Share") and one non-flow through 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 $0.075 per share. Flow through proceeds raised will be used towards exploration on the Company’s Whabouchi South property bordering Nemaska Lithium Inc.’s Whabouchi project in the James Bay area in the Province of Quebec as well as further exploration on the Company’s Buckingham graphite property located in Buckingham Township also in the Province of Quebec.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 8% of the proceeds raised by such finder as part of this Offering, (ii) a number of common shares of the Issuer that is equal up to 5% of the number of Flow Through Units placed through the finder as part of this Offering and (iii) 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 5% 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 $0.075 per Finder's Warrant.
Ashburton Ventures Inc. is a Canadian-based junior exploration with mineral projects in Canada and Nevada, USA. If you would like to be added the news release distribution please get in touch with us at info@ashburtonventures.com.
ON BEHALF OF THE BOARD
Signed “Michael England”
Michael England, President
FOR FURTHER INFORMATION PLEASE CONTACT:
Ashburton Ventures Inc.
Telephone: 1-604-683-3995
Toll Free: 1-888-945-4770
www.AshburtonVentures.com
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.