TSX.V: ABR CDN $0.08 -0.005
Untitled Document

Navigation

ASHBURTON VENTURES INC. NEW CHIEF FINANCIAL OFFICER AND PRIVATE PLACEMENT ANNOUNCED

Released January 23rd, 2009
ASHBURTON VENTURES INC.
NEW CHIEF FINANCIAL OFFICER AND PRIVATE PLACEMENT ANNOUNCED


Vancouver, British Columbia, January 23, 2009. ASHBURTON VENTURES INC. (the "Company") (TSXV: ABR) is pleased to announce the appointment of the Company’s new Chief Financial Officer, Zara Kanji-Aquino, effective immediately. Ms. Kanji-Aquino, a Certified General Accountant, is the founder and proprietor of Zahara Kanji-Aquino and Company, a firm providing accounting services to private and public companies, and brings financial and accounting expertise to the Company.
Mr. Philip Taneda has resigned as CFO and Secretary of the Company to pursue other interests. The Company wishes Mr. Taneda continued success in his future endeavours.

The Company is also pleased to announce that it has arranged a non-brokered private placement of up to 3,000,000 flow-through units at a price of $0.10 per unit for gross proceeds of $300,000. Each flow-through unit is comprised of one flow-through common share and one-half (½) of a share purchase warrant. One whole share purchase warrant entitles the holder to purchase an additional non-flow-through common share for $0.15 for a period of 24 months from the date of issuance.

In addition, the Company has arranged a non-brokered private placement of up to 4,000,000 non-flow-through units at a price of $0.06 per unit for gross proceeds of $240,000. Each such unit is comprised of one non-flow-through common share and one share purchase warrant. Each whole share purchase warrant entitles the holder to purchase an additional common share for $0.10 for a period of 24 months from the date of issuance.

The proceeds from the flow-through private placement will be used to undertake the Company’s anticipated work programs on the Company’s OG Property, located approximately 110 kilometres northwest of Dawson City, Yukon. The proceeds from the non-flow-through private placement will be used for the Company’s working capital.

Both private placements are subject to the acceptance for filing of the TSX Venture Exchange.

For further details regarding the Company or its OG Property, please refer to the Company's Filing Statement dated December 18, 2008 and various news releases, including the news release dated January 5, 2009 announcing the closing of the Qualifying Transaction and the private placement, filed under the Company's profile on SEDAR at www.sedar.com.
For further information contact:

Michael England, Director
Telephone: (604) 683-3995
Facsimile: (604) 683-3988
Email: eng[email protected]

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.