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January 4th, 2018, VANCOUVER, B.C. – ASHBURTON VENTURES INC. (ABR-TSX:V) (ARB-FRANKFURT) (“Ashburton” or the "Company”) announces the Company has arranged a non-brokered private placement of up to 10,000,000 units (the "Units") at a price of $0.09 per Unit for an aggregate gross proceeds of $900,000 (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 $0.18 per Warrant Share for a 24 month period after the Closing Date. 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 after 6 months from closing, 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 news release, announcing that it has elected to exercise this acceleration right. The Company intends to rely on the "investment dealer" prospectus exemption, among other prospectus exemptions, with respect to the private placement. As such, the Issuer confirms that there is no material fact or material change about Ashburton that has not been generally disclosed.
Proceeds will be used towards advancing its Z-1 Zeolite project located in Cache Creek, BC (approximately $700,000) and for general corporate purposes (approximately $150.000).
The financing is subject to TSX Venture Exchange approval.
The Company may, in its sole discretion, pay finders' fees to agents of the Company.
Ashburton Ventures Inc. is a Canadian-based junior exploration company focused on Canadian mineral projects in Quebec and British Columbia, Canada.
ON BEHALF OF THE BOARD
Signed “Michael England”
Michael England, CEO
FOR FURTHER INFORMATION PLEASE CONTACT:
Toll Free: 1-888-945-4770
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.