Business
Advanced Gold Announces Closing of Offering, Acquisition of Silver Belle Project and Vertical Amalgamation
Toronto, Ontario--(Newsfile Corp. - March 18, 2026) - Advanced Gold Exploration Inc. (CSE: AUEX) (FSE: ZF2) (OTC Pink: AUHIF) ("Advanced Gold" or the "Company") is pleased to announce that, further to its press release of February 27, 2026, it has closed its non-brokered private placement (the "Offering") through the issuance of 4,885,000 units at a price of $0.20 per Unit for aggregate gross proceeds of $977,000.Each Unit was comprised of one common share (each, a "Common Share") in the capital
About this update from Advanced Gold Exploration Inc.
[{"type":"text","content":"Toronto, Ontario--(Newsfile Corp. - March 18, 2026) - Advanced Gold Exploration Inc. (CSE: AUEX) (FSE: ZF2) (OTC Pink: AUHIF) ("Advanced Gold" or the "Company") is pleased to announce that, further to its press release of February 27, 2026, it has closed its non-brokered private placement (the "Offering") through the issuance of 4,885,000 units at a price of $0.20 per Unit for aggregate gross proceeds of $977,000.","length":447,"tagName":"p"},{"type":"text","content":"Each Unit was comprised of one common share (each, a "Common Share") in the capital of the Company and one-half of one whole Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder thereof to acquire one Common Share at a price of $0.30 per Common Share for a period of two (2) years from the date of issuance.","length":372,"tagName":"p"},{"type":"text","content":"All securities issued pursuant to the Offering are subject to a statutory hold period of four months plus one day from the date of issuance, in accordance with applicable securities legislation. The gross proceeds of the Offering shall be used for general corporate and working capital purposes.","length":295,"tagName":"p"},{"type":"text","content":"In connection with the Offering, the Company paid certain eligible persons (the "Finders") a cash commission of an aggregate of $59,760 and issued an aggregate of 286,800 broker warrants (each, a "Broker Warrant"). Each Broker Warrant entitles the holder thereof to acquire one Common Share at a price of $0.30 per Common Share for a period of two (2) years from the closing of the Offering.","length":411,"tagName":"p"},{"type":"text","content":"The Offering constituted a related party transaction within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") as insider of the Company subscribed for an aggregate of 150,000 Units. The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(1)(a) of MI 61-101, as the Company is not listed on a specified market and the fair market value of the participation in the Private Placement by the insider does not exceed 25% of the market capi...