Amseco Exploration Ltd.
TSX VENTURE : AEL

Amseco Exploration Ltd.

November 29, 2010 16:56 ET

Amseco Exploration Ltd./Completion of Private Placements for $632,080: $591,630-Flow-Through Shares $40,450-Treasury Shares

MONTRÉAL, QUÉBEC--(Marketwire - Nov. 29, 2010) - Amseco Exploration Ltd. (TSX VENTURE:AEL) ("Amseco") announces that it has completed two non-brokered private placements. Following these Placements, Amseco is an ideal financial position to initiate its three drilling campaigns. The Corporation followed the necessary steps to identify the more auspicious zones on its three priority projects.

The first private placement of a value of $592,000 is through the issuance of Flow-Through shares. Subject to regulatory approvals the Corporation will issue three million seven hundred thousand (3,700,000) shares at a price of $0.16 each. Of this amount $0.1599 will qualify as flow-through expenditures and $0.0001 is for working capital purposes. $591,630 is raised for exploration purposes and $370 to increase its treasury. Each share comes with one-half warrant. Each full warrant gives the holder the right to acquire an additional share at a price of $0.25 for a twenty-four (24) month period from the issue date. Amseco will issue 1,850,000 such warrants.

The second placement is for an amount of $40,080. Subject to regulatory approvals Amseco will issue three hundred and thirty-four thousand (334,000) common treasury shares at a price of $0.12 each and three hundred and thirty-four thousand (334,000) warrants each giving the holder the right to acquire an extra share at a price of $0.16 for a 24 month period from the issue date. Thus Amseco obtains $40,080 to increase its working capital.

The Corporation will pay a selling commission of $20,404.80 to First Canadian Securities of Toronto, ON, and $6,000 to Union Securities from Vancouver BC. Amseco will also issue 132,540 Finders' Warrants to First Canadian Securities of Toronto, each warrant giving the right to acquire an additional Amseco share at a price of $0.16 per Option over a 24 month period after the completion of the Placements.

These private placements were completed under a Price Protection request filed with the TSX-V on November 2, 2010, when the Corporation's shares were trading at $0.115 per share. The shares issued as part of these Placements are subject to resale restriction for a 4 month and one (1) day period.

The four subscribers to these Placements are Institutions or high net worth individuals.

We seek safe harbor

Neither 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.

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