Advanced Gold Announces Closing of Private Placement

Executive Summary

• Advanced Gold closed an upsized non‑brokered private placement of 3,496,667 units at $0.15 per unit, raising gross proceeds of $524,500.05.
• Each unit consists of one common share and half of a transferable warrant exercisable at $0.20 per share for two years.
• Proceeds will be used for general corporate and working‑capital purposes; related‑party participation and commission payments were disclosed.

Key Details

• Units Issued: 3,496,667 units @ $0.15 each → $524,500.05 gross proceeds.
• Unit Composition: 1 common share + ½ warrant (full warrant = right to purchase one common share at $0.20).
• Warrant Terms: Exercise price $0.20 per share; exercisable for two years from issuance.
• Statutory Hold Period: Securities subject to a four‑month plus one day hold period under securities legislation.
• Use of Proceeds: General corporate and working‑capital purposes.
• Commission Payments: Cash commissions paid to eligible persons totaling $16,949.99; alternatively, 15,000 common shares issued in lieu of cash commissions to a finder.
• Related Party Transaction: Insider subscribed for 100,000 units; exemption relied upon under MI 61‑101 (fair market value <25% of market cap). No material change report filed prior to closing, deemed reasonable by the Company.
• Regulatory Disclaimers: Securities not registered in the United States; offering limited to non‑U.S. persons or where exemptions apply.

Notable Quotes

(No direct quotes were provided in the release.)