February 20, 2014, VANCOUVER, B.C. – ASHBURTON VENTURES INC. (“Ashburton” or the “Company”) (ABR-TSX-V) announces that, further to its news releases dated December 13, 2013, January 22, 2014 and February 6, 2014, the Company has completed its non-brokered private placement of 3,500,000 non-flow-through units (the "NFT Units") at a price of $0.05 per NFT Unit and the second tranche of the flow-through portion of its private placement of 2,300,000 flow-through units (the "FT Units") at a price of $0.05 per FT Unit for an aggregate gross proceeds of $290,000 (the "Offering").
Each NFT Unit and FT 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 $0.075 per Warrant Share for the first year and thereafter at a price of $0.10 per Warrant Share until February 18, 2016, subject to the closing sales price of the Shares (or the closing bid, if no sales were reported on a trading day) as quoted on the TSX Venture Exchange (or such other stock exchange, quotation system or market on which the Shares are listed and where a majority of the trading volume of the Shares occurs) equals or exceeds $0.15 for a period of 10 consecutive trading days, the Company may, within five days of such event, provide notice by way of news release to the subscriber of early expiry, and thereafter such warrants shall expire on that date which is 30 days from the date such notice is given.
All securities issued pursuant to the closing of the NFT Units and second tranche of the FT Units announced herein are subject to a hold period expiring on June 19, 2014.
The Company did not pay finders' fees nor issue finders' warrants with respect to the Offering.
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.