Advance United Holdings Inc. Announces Closing of Private Placement
Advance United Holdings Inc. Announces Closing of Private Placement
May 23, 2023 Toronto, Ontario – Advance United Holdings Inc. (CSE: AUHI) (QTCQB: AUHIF)
(FSE: 910) (the "Company" or “Advance United”) is pleased to announce that further to its press
release of April 12, 2023, it has closed its previously announced non-brokered private placement
(the "Offering") through the issuance of 1,000,000 flow-through units (each, a "FT Unit") in the
capital of the Company at a price of $0.10 per FT Unit for gross proceeds of $ 100,000. Each FT
Unit is comprised of one common share issued on a flow- through basis (each, a " FT Share") in
the capital of the Company and one-half of one whole Common Share purchase warrant, issued
on a non-flow-through basis (each whole warrant, a " Warrant"). Each Warrant shall entitle the
holder thereof to acquire one Common Share at a price of $0.15 per Common Share for a period
of sixty (60) months from the date of issuance. The FT Shares will qualify as “flow-through shares”
within the meaning of subsection 66(15) of the Income Tax Act (Canada).
All securities issued pursuant to the Offering will be subject to a hold period of four months plus
a day from the date of issuance and the resale rules of applicable securities legislation. Th e net
proceeds will be used by the Company to incur eligible “Canadian exploration expenses” that will
qualify as “flow-through expenditures” as such terms are defined in the Income Tax Act (Canada).
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the
securities in the United States. The securities have not been and will not be registered under the
United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities
laws and may not be offered or sold within the United States or to U.S. Persons unless registered
under the U.S. Securities Act and applicable state securities laws or an exemption from such
registration is available.
For more information, please contact:
Advance United Holdings Inc.
James Atkinson P. Geo., CEO
Tel: (647) 278-7502
Email: [email protected]
Forward-Looking Information
This news release contains " forward-looking information " within the meaning of applicable
securities laws relating to trading on the CSE and the focus of the Company’s business. Any such
forward-looking statements may be identified by words such as " expects", "anticipates",
"intends", "contemplates", "believes", "projects", "plans" and similar expressions. Forward -
looking statements in this news release include statements regarding the Company’s ability to
increase the value of its current and future mineral exploration properties and, in connection
therewith, any long -term sharehol der value, the Company’s ability to mitigate or eliminate
exploration risk, and the Company’s intention to develop a portfolio of historic gold properties.
Readers are cautioned not to place undue reliance on forward -looking statements. These
statements should not be read as guarantees of future performance or results. Such statements
involve known and unknown risks, uncertainties and other factors that may cause actual results,
performance or achievements to be materially different from those implied by such statements.
Although such statements are based on management’s reasonable assumptions, there can be no
assurance that the Company will continue its business as described above. Readers are
encouraged to refer to the Company’s annual and quarterly manage ment’s discussion and
analysis and other periodic filings made by the Company with the Canadian securities regulatory
authorities under the Company’s profile on SEDAR at www.sedar.com. The Company assumes no
responsibility to update or revise forward -looking information to reflect new events or
circumstances or actual results unless required by applicable law.