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Advanced Gold Exploration Inc
Symbol AUEX
Shares Issued 75,596,499
Close 2025-01-03 C$ 0.01
Market Cap C$ 755,965
Recent Sedar Documents

Advanced Gold arranges $100,000 private placement

2025-01-08 02:36 ET - News Release

Mr. James Atkinson reports

ADVANCED GOLD EXPLORATION ANNOUNCES PRIVATE PLACEMENT

Advanced Gold Exploration Inc. has arranged a non-brokered private placement through the issuance of up to two million flow-through units at a price of 2.5 cents per FT unit and up to two million non-flow-through units at a price of 2.5 cents per unit for a combined aggregate gross proceeds of up to $100,000.

Each FT unit shall be composed of one common share in the capital of the company, issued on a flow-through basis, and one common share purchase warrant. Each warrant shall entitle the holder thereof to acquire one common share in the capital of the company at a price of five cents per common share for a period of five years from the date of issuance. The FT shares will qualify as flow-through shares within the meaning of Subsection 66(15) of the Income Tax Act (Canada), which also qualify for the Canadian government's critical mineral exploration tax credit. Each unit shall be composed of one common share and one warrant.

All securities issued pursuant to the offering will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation. The gross proceeds from the sale of the FT units will be used by the company to incur eligible Canadian exploration expenses that will qualify as flow-through critical mineral mining expenditures as such terms are defined in the Income Tax Act (Canada). Gross proceeds from the sale of the units shall be used for general corporate and working capital purposes.

The closing of the offering is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the Canadian Securities Exchange.

About Advanced Gold Exploration Inc.

Advanced Gold (formerly Advance United Holdings Inc.) is a Canadian mineral exploration company. It has acquired a portfolio of undervalued gold and copper properties and is increasing their value through the application of modern technology, new ideas and systematic exploration. It has a growing pipeline of similar properties that it is looking to acquire. It is involved exclusively in the acquisition and advancement of past projects -- with no intent to bring them back into production or to mine them itself. Its expertise is in identifying and acquiring undervalued properties with significant historical work, which were uneconomic at the time. It believes it can enhance their economic value at today's prices. It finances the reworking historic data and applying modern technology to underwrite new qualified reports and document quantifiable resources and reserves to current standards, thereby recognizing the current value. Its purpose is to bring immediate and long-term value to its partners and shareholders while seeking to reduce exploration risk, so that it can all advance in the shortest possible time frame.

We seek Safe Harbor.

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