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December 2nd, 2013, VANCOUVER, B.C. – ASHBURTON VENTURES INC. (TSX-V: ABR) (ARB-FRANKFURT) (“Ashburton” or the "Company”) announces that it has arranged a non-brokered private placement of 5 million units ("Units") at a price of $0.05 per Unit for aggregate gross proceeds of $250,000 (the "Offering"). Each Unit will be comprised of one common share ("Share") and one Share purchase warrant of the Company ("Warrant"). Each Warrant will entitle the holder to purchase one Share (a "Warrant Share") for a period of 12 months from the closing date at an exercise price of $0.10 per Warrant Share. The warrants issued with the units sold will be subject to an acceleration provision. After four months have elapsed from closing, if Ashburton trades at $0.15 for 10 consecutive days, the Company has the option to provide notice to the warrant holders that their warrants will expire if they are not exercised within 30 days.
The Company may, at its sole discretion, pay a finders' fee to agents of the Company consisting of: (i) a cash fee in an amount of 10% of the proceeds raised by such finder as part of this Offering, and (ii) a number of finder's warrants entitling the holder thereof to purchase that number of Shares of the Company ("Finder's Warrant") that is equal up to 10% of the number of units placed through the finder as part of this Offering. Each Finder's Warrant will entitle the holder to purchase one Share for a period of 18 months from the closing date at an exercise price of $0.10 per Finder's Warrant.
The proceeds raised will be used for general corporate purposes and advancing its various projects.
Ashburton Ventures is a junior exploration company actively seeking mineral opportunities for the benefit of all its stakeholders.
ON BEHALF OF THE BOARD
Signed “Kyler Hardy”
Kyler Hardy, President
FOR FURTHER INFORMATION PLEASE CONTACT:
Telephone: 1-604-683-3995; Toll Free: 1-888-945-4770; www.ashburtonventures.com
Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Ashburton Ventures Inc. Actual results may differ materially from those currently anticipated in such statements. Neither the 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.
TSX.V ABR FRANKFURT ARB