February 13th, 2012,
ASHBURTON VENTURES INC. (ABR-TSX:V) (ARB-FRANKFURT) (â€œAshburtonâ€ or the “Companyâ€)
announces that it has
arranged a non-brokered private placement of 30 million units
(“Units”) at a price of $0.05 per Unit for aggregate gross proceeds
of $1,500,000 (the “Offering”).
Each Unit will be comprised of one common share (“Share”) and
one Share purchase warrant of the Company (“Warrant”). Each Warrant will entitle the holder to
purchase one Share (a “Warrant Share”) for a period of 24 months from
the closing date at an exercise price of $0.10 per Warrant Share.
The Company may, in its sole discretion,
pay a finders’ fee to agents of the Company consisting of: (i) a cash fee in an
amount of 10% of the proceeds raised by such finder as part of this Offering,
and (ii) a number of finder’s warrants entitling the holder thereof to purchase
that number of Shares of the Company (“Finder’s Warrant”) that is
equal up to 10% of the number of units placed through the finder as part of
this Offering. Each Finder’s Warrant
will entitle the holder to purchase one Share for a period of 18 months from
the closing date at an exercise price of $0.10 per Finder’s Warrant.
The proceeds raised will be used
for general corporate purposes and advancing its various projects.
The private placement is subject
to the approval of the TSX Venture Exchange.
Ventures Incorporated is a Canadian-based junior exploration with active
mineral programs in the Yukon, Canada and Nevada,
ON BEHALF OF THE BOARD
Michael England, President
Neither the 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.