Advanced Gold Announces Closing of Private Placement

Core Viewpoint - Advanced Gold Exploration Inc. has successfully closed an upsized non-brokered private placement, raising a total of $524,500.05 through the issuance of 3,496,667 units at a price of $0.15 per unit [1]. Group 1: Private Placement Details - Each unit consists of one common share and one-half of a transferable common share purchase warrant, with each whole warrant allowing the purchase of one common share at $0.20 for two years [2]. - The gross proceeds from the private placement will be allocated for general corporate and working capital purposes [3]. - The company paid cash commissions totaling $16,949.99 and issued 15,000 common shares as part of the compensation for certain eligible persons [4]. Group 2: Related Party Transaction - The private placement involved a related party transaction, as an insider subscribed for 100,000 units. The company is relying on exemptions from certain requirements under Multilateral Instrument 61-101 [5]. Group 3: Company Overview - Advanced Gold Exploration is a Canadian mineral exploration company focused on gold and copper properties, aiming to enhance the economic value of undervalued properties with significant historical work [7].