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February 21st, 2017, VANCOUVER, B.C. – ASHBURTON VENTURES INC. (“Ashburton” or the “Company”) (ABR-TSX-V) announces that, further to its news releases dated January 30, 2017, February 2, 2017 and February 9, 2017, the Company has completed its non-brokered private placement of 12,000,000 units (the "Units") at a price of $0.10 per Unit for an aggregate gross proceeds of $1,200,000 (the "Offering").
Each Unit is comprised of one common share (a "Share") and one Share purchase warrant (a "Warrant") of the Company. Each Warrant will entitle the holder to purchase one Share (a “Warrant Share”) at a price of $0.15 per Warrant Share until February 20, 2019. The warrants are subject to an acceleration clause, which states that the issuer will have the right to accelerate the expiry date of the warrants if, at any time, the average closing price of the shares is equal to or greater than 30 cents for 10 consecutive trading days. In the event of acceleration, the expiry date will be accelerated to a date that is 30 days after the issuer issues a new release, announcing that it has elected to exercise this acceleration right.
Finder’s fees payable on the placement are $53,600 cash and 536,000 finder’s warrants. Finder’s warrants are exercisable at $0.10 for a period of 12 months from the closing date.
All securities issued pursuant to the closing of the Offering are subject to a hold period expiring on June 21, 2017.
Ashburton Ventures Inc. is a Canadian-based junior exploration with mineral projects in Canada and Nevada, USA. If you would like to be added the news release distribution please get in touch with us at [email protected].
ON BEHALF OF THE BOARD
Michael England, CEO and Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Toll Free: 1-888-945-4770
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.