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TORONTO, ONTARIO--(Marketwired - Dec. 17, 2013) - Advanced Explorations Inc. (the "Company" or "AEI") (TSX VENTURE:AXI) (FRANKFURT:AE6) is pleased to announce that it has closed the first tranche of the non-brokered private placement previously announced on November 11, 2013. Pursuant to the first tranche, a total of 10,000,000 units (the "Units") were sold at a price of $0.05 per Unit for gross proceeds of $500,000. Each Unit consists of one common share of the Company and one common share purchase warrant ("Warrant"), with each Warrant being exercisable to acquire one common share of the Company at a price of $0.10 for a period of 24 months following the closing date of the Offering. |
