Advanced Explorations Inc.

Advanced Explorations Inc.

April 04, 2007 08:00 ET

Advanced Explorations Inc. Announces Completion of $500,000 Debt Financing

TORONTO, ONTARIO--(CCNMatthews - April 4, 2007) -

Not for Distribution to U.S. Newswire Services or for Dissemination in the United States

Advanced Explorations Inc. ("AEI") (NEX:AXI.H) today announces that it has completed the first $500,000 of the $1,500,000 of the debt financing announced on March 30, 2007. The Company has arranged a loan of $500,000 from a director of AEI, where a bonus equal to 20% of the loan principal advanced shall be paid in shares of the Company at the financing rate of $1.25 per share as announced March 30th, 2007. The interest rate of the loan has been set at 10.0% per annum. The loan shall be payable upon the completion of the transactions related to the Roche Bay Option Agreement announced February 12th, 2007. The loan proceeds shall be lent by AEI to Roche Bay Plc pursuant to a further loan agreement. In the event that such transactions do not complete, the Company shall be released from all liability related to the loan and Roche Bay Plc shall be wholly responsible for the repayment of the loan and all amounts related thereto.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the 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.

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.

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.
    John Gingerich
    (416) 570-3250
    Advanced Explorations Inc.
    Gary Williams
    (416) 570-0629