Advanced Gold appoints director, arranges financing

Executive Summary

• Advanced Gold Exploration Inc. announced a non-brokered private placement of up to 2,000,000 units at $0.15 per unit, raising up to $300,000 in gross proceeds for general corporate and working capital purposes.
• The company appointed Shahab Samimi to its board of directors and accepted the resignation of Rodney Ireland.
• The private placement includes warrants exercisable at $0.20 per share for a two-year period, with a four-month-plus-one-day hold period on all issued securities.

Key Details

• Private Placement Structure: Non-brokered offering of up to 2,000,000 units.
• Price: $0.15 per unit.
• Gross Proceeds: Up to $300,000.
• Unit Composition: Each unit consists of one common share and one-half of one whole transferable common share purchase warrant.
• Warrant Terms: Each warrant entitles the holder to acquire one common share at an exercise price of $0.20 per share.
• Warrant Expiry: Two years from the date of issuance.
• Use of Proceeds: General corporate and working capital purposes.
• Hold Period: Four months plus one day from the date of issuance for all securities.
• Finders' Fees: Up to 10% of funds raised, payable in shares or cash.
• Conditions Precedent: Closing is subject to regulatory approvals, including the Canadian Securities Exchange.
• Board Appointments: Shahab Samimi appointed as director; brings experience in enterprise software, digital transformation, and public board service (Hypercharge Networks, Humanoid Global).
• Board Resignations: Rodney Ireland resigned from the board to pursue other opportunities.

Notable Quotes

• "Mr. Samimi is an experienced investor and corporate director with a strong background in capital allocation and public company governance."
• "The board and management want to sincerely thank Mr. Ireland for his years of dedicated service and valuable contributions to Advanced Gold, and wish him the very best in his future endeavours."