February 5, 2015, VANCOUVER, B.C. – ASHBURTON VENTURES INC. (“Ashburton” or the “Company”) (ABR-TSX-V) announces that, further to its news releases dated January 22, 2015, the Company has completed its non-brokered private placement of 12,500,000 units (the "Units") at a price of $0.01 per Unit for an aggregate gross proceeds of $125,000 (the "Offering").
Each Unit is comprised of one common share (a "Share") and one Share purchase warrant (a "Warrant") of the Company. Each Warrant will entitle the holder to purchase one Share (a “Warrant Share”) at a price of $0.05 per Warrant Share until February 5, 2016.
All securities issued pursuant to the closing of the Units are subject to a hold period expiring on June 6, 2015.
The Company did not pay finders' fees nor did it issue finders' warrants with respect to the Offering.
Proceeds raised from the Offering will be used as follows:
· For professional fees owing (approx. $10,000);
· For short term payables owing (Hackett work program and office lease) (approx. $55,000); and
· To maintain the Company's present operations and cover general and administrative expenses (approx. $60,000).
Ashburton Ventures Inc. is a junior exploration company seeking mineral opportunities for the benefit of all of its stakeholders.
ON BEHALF OF THE BOARD
Michael England, CEO and Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Toll Free: 1-888-945-4770
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.