FSCWire5 months ago
ASHBURTON VENTURES INC. (ABR-TSX:V) (ARB-FRANKFURT) (“Ashburton” or the "Company”) announces the Company has arranged a non-brokered private placement of up to 10,000,000 units (the "Units") at a price of $0.09 per Unit for an aggregate gross proceeds of $900,000 (the "Offering"). Each Unit is comprised of one common share (a "Share") and one Share purchase warrant (a "Warrant") of the Company. Each Warrant will entitle the holder to purchase one Share (a “Warrant Share”) at a price of $0.18 per Warrant Share for a 24 month period after the Closing Date. The warrants are subject to an acceleration clause, which states that the issuer will have the right to accelerate the expiry date of the warrants if, at any time after 6 months from closing, the average closing price of the shares is equal to or greater than 30 cents for 10 consecutive trading days.