Advanced Explorations Inc.

Advanced Explorations Inc.

December 03, 2008 18:30 ET

Advanced Explorations Inc. Announces $3 Million Flow-through Financing

TORONTO, ONTARIO--(Marketwire - Dec. 3, 2008) - Advanced Explorations Inc. (the "Company" or "AEI") is pleased to announce that it has engaged Sandfire Securities Inc. and the MineralFields Group to assist the Company in raising capital by private placement offering to accredited investors. Subject to TSX Venture Exchange approval the Company intends to raise up to $3,000,000 worth of flow through funds through a brokered offering led by Sandfire Securities Inc. acting as lead agent. A total of up to 27,272,727 flow-through units ("Units") will be offered at $0.11 per Unit (the "Offering").

Each Unit consists of one (1) common share and one-half (1/2) of one non-transferable common share purchase warrant (the "Warrants"). The holder of Warrants shall be entitled to convert each whole Warrant to a common share of the Company at an exercise price of $0.16 for 24 months following the closing of the Offering ("Closing"). All warrants shall expire two (2) years after Closing.

The gross proceeds raised from the flow-through funds will be used for exploration expenditures in the Company's Nunavut Roche Bay Magnetite Project, which will constitute Canadian exploration expenses (as defined in the Income Tax Act) and will be renounced for the 2008 taxation year.


John Gingerich, President & CEO

ABOUT Advanced Explorations Inc.

Advanced Explorations Inc., based in Toronto, Ontario, is a mining exploration company exclusively focused on developing high quality iron ore opportunities. In early 2007, AEI acquired the option to earn an interest in the Roche Bay Magnetite Project located on the Melville Peninsula in Nunavut, Canada. Led by an experienced management team with technical, exploration and mining expertise the company has the capabilities to rapidly advance the Roche Bay Project and explore other local and global opportunities. Located proximal to a natural deep water harbour the Roche Bay deposit benefits from transportation efficiencies possibly making it one of the world's premium iron ore prospects. Shares of the company trade at the TSX Venture Exchange (AXI) and at the Frankfurt Stock Exchange (AE6). For more information please visit



This news release also 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.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Contact Information

  • Advanced Explorations Inc.
    (416) 203-0057 x226