Oct 29 2010
Advanced Explorations Inc. (TSX VENTURE:AXI)(FRANKFURT:AE6) has announced that the initial private placement and acquisition of 19% of the Company's issued and outstanding stock by XinXing Pipes Group Co. Ltd. and its affiliates has been fully subscribed.
As previously announced on September 27, 2010, the Company has reserved 21,233,396 common shares at a price of $0.25 and representing aggregate proceeds of $5,308,349.00 for closing of the financing once final TSX Venture Exchange approval is received.
The Strategic Partnership with XXP provides the Company many new opportunities. AEI representatives will also be attending a number of trade shows and conferences in the near future to provide an opportunity for investors to meet and discuss its future plans. Upcoming shows include: International Precious Metals & Commodities Show, Munich, Germany (5th-6th November, 2010), China Mining International Premier Mining Congress & Exhibition, Tianjin, China (16th-18th November, 2010) and Hard Assets Investment Conference, San Francisco (21st-22nd November, 2010). The Company is looking forward to meeting with its stakeholders, shareholders, investors and supporters.
Source: Advanced Explorations Inc.