- Advance United Holdings (AUHI) announced a non-brokered private placement for gross proceeds of up to $500,000
- The company plans to issue up to 5,000,000 units at $0.05 per unit and up to 3,571,428 flow-through units at $0.07 per FT unit
- It intends to use the net proceeds from the sale of units for general working capital purposes
- Advance United is an exploration stage mineral resources company
- Advance United Holdings Inc. (AUHI) opened trading at C$0.03 per share
Advance United Holdings (AUHI) announced a non-brokered private placement for gross proceeds of up to $500,000.
The company plans to issue up to 5,000,000 units at $0.05 per unit and up to 3,571,428 flow-through units at $0.07 per FT unit. Each unit shall consist of one common share and one common share purchase warrant. Each warrant entitles the holder to acquire one additional common share at $0.10 per common share for five years.
The FT unit shall consist of one common share, issued on a flow-through basis and one common share purchase warrant, issued on a non-flow-through basis. Each FT warrant shall entitle the holder to acquire one additional common share at $0.10 per common share for five years from the date of issuance.
The company may pay finder’s fees in connection with this offering.
All securities issued will be subject to a statutory four-month hold period.
The company intends to use the net proceeds from the sale of units for general working capital purposes. It will use the gross proceeds from the sale of FT units to incur eligible “Canadian exploration expenses.”
Another announcement
Advance United has appointed Rodney Ireland as a director, while David Boulette is no longer a director of the company.
Ireland is the founder and voice of Bay Street Radio and a Board Member of Green Panda Capital Corp. Green Panda is a Capital Pool Company on the TSXV.
He was formerly the CEO and Board Member of Xander Resources and Board Member, Chair of the Audit Committee of Vanadium One Energy Corp.
Ireland was the President and CEO of White Board Investor Relations and has over 15 years of capital markets experience. He has studied Agricultural Economics at the University of Guelph.
Advance United is an exploration-stage mineral resources company. Its principal business activities include acquiring, exploring and evaluating strategic mineral properties.
Advance United Holdings Inc. (AUHI) opened trading at C$0.03 per share.
