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ASHBURTON REDUCES FINANCING PRICE
May 6, 2009, VANCOUVER, B.C. – ASHBURTON VENTURES INC. (ABR-TSX:V)
(“Ashburton” or the "Company”) announces it is reducing the price of its previously announced non-brokered private placement of up to seven million units (see April 20th, 2009 and March 31st, 2009 news) from $0.12 to $0.10 and re-pricing the associated warrants from 15 cents to 12 cents. Each unit consists of one common share and one share purchase warrant, with an exercise period of eighteen months.
The proceeds from the private placement will be used to pay for drilling and working capital. A finder's fee may be payable on each private placement of up to 10% cash and up to 10% share purchase "B" warrants. Each "B" warrant will entitle the holder to purchase one common share for $0.10 per share for a period of one year.
Ashburton Ventures Inc. is a recently listed junior exploration company whose mission is to acquire highly prospective base and precious metal properties for the benefit of its stakeholders.
ON BEHALF OF THE BOARD
Michael England, President
For further information contact:
Telephone: (604) 683-3995
Facsimile: (604) 683-3988
Email: [email protected]
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.