February 3, 2009, VANCOUVER, B.C. â€“ ASHBURTON VENTURES INC. (ABR-TSX:V)
(â€œAshburtonâ€ or the “Companyâ€) is pleased to announce the closing of
the first tranche of its private placement (the “Private Placement”)
announced in a news release dated January 26, 2009. Pursuant to the
Private Placement, the Company issued 2,500,000 units (the “Units”) at
a price of $0.06 per Unit for gross proceeds of $150,000. 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 additional Share of the Company for a period of
two years from the date of issuance at a price of $0.10 per Share.
Finderâ€™s fees consisting of 200,000 broker warrants (the “Broker
Warrants”) and $12,000 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 two
years from the date of issuance at a price of $0.10 per Share.
All securities issued pursuant to the private placement are subject to a hold period expiring on May 31, 2009.
ON BEHALF OF THE BOARD
Michael England, President
For further information contact:
Telephone: (604) 683-3995
Facsimile: (604) 683-3988
Email: [email protected]
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.