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Acrex Ventures closes 7,800,000 units private placement
Acrex Ventures closes 7,800,000 units private placement.
About this update from Avventura Resources Ltd.
[{"type":"text","content":"\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION\n\n\nIN THE UNITED STATES/\n\n\nSymbol "AKV": TSX Venture Exchange\n\n\nSEC Form 20F Registration CIK: 1194506\n\n\nSymbol "AXVEF": OTC BB\n\n\nVANCOUVER, Aug. 15 /CNW/ - Acrex Ventures Ltd. ("Acrex") has closed the\nfirst tranche of the private placement announced in its July 19, 2007 Press\nRelease through its best efforts Agent, PI Financial Corp. The Company has\nsold 2,800,000 Units ("Units") for $0.18 per Unit, and 5,000,000 flow-through\nUnits ("FT Units") for $0.22 per FT Unit - for which the Company has received\ngross proceeds of $1,604,000.\n\n\nEach Unit will consist of one non flow-through common share and one-half\nof a 2-year transferable common share purchase warrant entitling the purchase\nof one additional common share at $0.50 per share.\n\n\nEach FT Unit will consist of one flow-through share and one-half of a\n2-year transferable common share purchase warrant entitling the purchase of\none additional non flow-through common share at $0.50 per share.\n\n\nThe Agent's compensation included a 7% commission paid as to $65,208.02\nin cash, and the balance as to 261,511 Units at a deemed price of $0.18 per\nUnit. The Agent's Units have the same terms as the Units of the Offering. The\nAgent also received 624,000 compensation options entitling the Agent to\npurchase up to 614,000 non flow-through shares at an exercise price of\n$0.23 per share.\n\n\nAll of the shares which are issued as part of the FT Units and Units, and\npursuant to the exercise of the warrants, are subject to 4 month hold periods\n- which will expire December 15, 2007.\n\n\nThis News Release does not constitute an offer to sell or a solicitation\nof an offer to sell any of securities in the United States. The securities\nhave not been and will not be registered under the United States Securities\nAct of 1933, as amended (the "U.S. Securities Act") or any state securities\nlaws and may not be offered or sold within the United States or to U.S.\nPersons unless registered under the U.S. Securities Act and applicable state\nsecurities laws or an exemption from such registration is available.\n\n\nACREX VENTURES LTD.\n\n\nPer:\n\n\nT.J. Malcolm Powell,\n\n\nPresident\n\n\nThe TSX Venture Exchange does not accept respon...