Advanced Explorations Inc.

Advanced Explorations Inc.

January 17, 2007 07:30 ET

Advanced Explorations Inc. Announces Completion of Financing

TORONTO, ONTARIO--(CCNMatthews - Jan. 17, 2007) - Advanced Explorations Inc. (the "Company") (NEX BOARD:AXI.H) is pleased to announce that the placement announced on January 10, 2007 has received commitments to acquire 1,000,000 units at $0.20 per unit, where each unit comprises one share and one share purchase warrant exercisable at $0.25, for a term of 1 year from the date of distribution.

The Company is in the process of submitting required documentation to the NEX Board of the TSX for approval. In respect of any shares issued or issuable pursuant to the foregoing securities, a hold period of 4 months applies. Funds from this financing will be used for general corporate purposes.

The Company will pay the maximum allowable commission in connection of this placement in the form of cash, securities or a combination of both.

About AEI

Advanced Explorations Inc. has been developing a strategy to leverage its expertise and use of leading-edge technologies to develop business opportunities within the petroleum and mineral exploration industries. Using AEI, exploration companies can reduce the time involved evaluating high-potential, and high-risk, targets in heretofore-unrealized sites around the world. Shares of the Company are listed for trading on the NEX board of the Toronto Stock Exchange under the symbol "AXI-H". There are 8,880,677 shares issued and outstanding not including the financing referenced in this release.

This news release includes forward-looking statements that involve a number of risks and uncertainties. The information reflects numerous assumptions as to industry performance, general business and economic conditions, regulatory and legal requirements, taxes and other matters, many of which are beyond the control of the company. Similarly, this information assumes certain future business decisions that are subject to change. There can be no assurance that the results predicted here will be realized. Actual results may vary from those represented, and those variations may be material.

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

Contact Information

  • Advanced Explorations Inc.
    Gary Williams
    (416) 570-0629