Advanced Gold Exploration Announces Private Placement of Convertible Debentures - Oct 7, 2024

Advanced Gold Exploration Announces Private Placement of

Convertible Debentures

Toronto, Ontario--( October 7, 2024) - Advanced Gold Exploration Inc (CSE: AUEX) (the

"Company") is pleased to announce that it intends to complete a non- brokered private

placement of 100 unsecured convertible debentures (each, a “ Debenture”) at a price of $1,000

per Debenture for gross proceeds of $100,000 (the “Offering”). The Company intends to use the

net proceeds from the Offering for general working capital.

The issuance of the Debentures pursuant to the Offering (and, if applicable, the underlying

common shares of the Company (“Common Shares”) and Common Share purchase warrants (the

"Warrants") comprising the units (the " Units") upon conversion of the Debentures) shall be

completed on a private placement and prospectus exempt basis, as applicable, such that the

issuances are (or in the case of any underlying Common Shares or Warrants, shall be) exempt

from any applicable prospectus and securities registration requirements.

The Debentures will mature three (3) years following the date of issuance (the “Maturity Date”)

and will bear interest at an interest rate of three percent ( 3%) per annum, commencing on

December 31, 2024, (i) in cash; or (ii) the equivalent value in Common Shares based on a price

per Common Share of $0.10 per Common Share . The holder of a Debenture will have the right,

from time to time and at any time after the date of issuance, to the Maturity Date, to convert all

or any portion of the outstanding principal amount into Units, at a conversion price of $0.10 per

Unit (the “ Conversion Price ”), subject to adjustment as herein provided. Each Unit shall be

comprised of one Common Share and one Warrant. Each Warrant shall entitle the holder thereof

to acquire one Common Share at a price of $0.15 per Common Share until the date that is the

third year from the date of issuance of the Debenture.

Pursuant to applicable Canadian securities laws, the Debentures as well as any underlying

Common Shares or Warrants to be issued upon conversion or exchange of these securities, are

subject to a hold period of four months and one day. The Offering remains subject to the final

approval of the Canadian Securities Exchange.

In addition, the Company announces that effective October 1, 2024, Mr. Radovan Danilovsky has

resigned as the Corporate Secretary of the Company. Mr. Danilovsky will remain as a director and

the Chief Financial Officer.

In addition, Ms. Carly Burk has been appointed the Corporate Secretary of the Company. Ms.

Burk practices general corporate and securities law for both public and private issuers and advises

on a variety of transactions including private placements, public offerings, M&A and continuous

disclosure obligations. Ms. Burk holds a Bachelor of Laws from the University of Southampton, a

Certificate of Qualification from the Federation of Law Societies and a Bachelor of Arts (Honours)

from Carleton University. Ms. Burk serves as an officer and/or director of several public and

private entities.

About Advanced Gold Exploration Inc.

Advanced Gold Exploration (Formerly Advance United Holdings Inc.) brings an entirely

different approach to the mining industry. We don't mine. Rather, we've acquired a

portfolio of undervalued gold properties and are increasing their value through the

appl ication of modern technology. We have a growing pipeline of similar properties that

we are looking to acquire. We are involved exclusively in the acquisition and advancement

of past projects - with no intent to bring them back into production or to mine th em

ourselves. Our expertise is in identifying and acquiring undervalued properties with

significant historical work, which were uneconomic at the time, but we believe have

economic value at today's prices. We fund the re -working historic data and applying

modern technology to underwrite new qualified reports, document quantifiable resources

and reserves to current standards, thereby recognizing the current value. Our purpose is

to bring immediate and long -term value to our partners and shareholders while se eking

to eliminate exploration risk, so that we can all advance in the shortest possible time

frame. For additional information about us, our projects, or to find out how we can assist

in the advancement of your project contact our CEO.

Contact Information

James Atkinson, M.Sc., P. Geo.,


CEO Advanced Gold Exploration Inc.


Email: [email protected] 


Tel: (647) 278-7502

Forward-Looking Information and Cautionary Statements

This news release may contain "forward- looking information" within the meaning of applicable

securities laws relating to the trading of the Company's securities 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 shareholder 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 management'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.sedarplus.ca.

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.