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ASHBURTON ANNOUNCES CLOSING OF FIRST
TRANCHE OF PRIVATE PLACEMENT
February 17, 2010, VANCOUVER, B.C. – ASHBURTON VENTURES INC. (“Ashburton” or the “Company”) (ABR-TSX:V) is pleased to announce the closing of the first tranche of its private placement (the "Private Placement") announced in a news release dated January 25, 2010. Pursuant to the Private Placement, the Company issued 2,040,000 units (the "Units") at a price of $0.09 per Unit for gross proceeds of $183,600. Each Unit is comprised of one common share (a "Share") of the Company and one common share purchase warrant (a "Warrant"). Each Warrant will entitle the holder to purchase one Share of the Company for a period of 18 months from the date of issuance at a price of $0.12 per Share.
Finders fees consisting of 150,000 broker warrants (the "Broker Warrants") and $13,500 in cash were paid in accordance with the policies of the TSX Venture Exchange. Each Broker Warrant will entitle the holder to purchase one Share of the Company for a period of 18 months from the date of issuance at a price of $0.12 per Share.
All securities issued pursuant to the private placement are subject to a hold period expiring on June 9, 2010.
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. The Company’s website can be viewed at www.ashburtonventures.com.
ON BEHALF OF THE BOARD
Michael England, President
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.
TSX.V ABR FRANKFURT ARB