Advanced Explorations Inc. (TSXV:AXI) announced a non brokered flow-through private placement of 14,000,000 flow-through units at a price of CAD 0.24 per unit for gross proceeds of CAD 3,360,000 on September 10, 2012. Each flow-through unit consists of one flow-through common share and one half of one common share purchase warrant. Each warrant entitles the holder to purchase one common share of the company at CAD 0.40 per share for a period of 24 months from the closing date. In case the closing trading price for the company's common shares on the TSX Venture Exchange is equal to or greater than CAD 0.75 per share for five consecutive trading days occurring any time after four months from the closing date, then the company may, at its option, accelerate the expiry of the warrants by giving notice to the holders thereof and in such case the warrants will expire on the date which is the earlier of 30th day after the date on which such notice is given or the original expiry date. The company may pay a finder's fee in shares, cash, warrants or a combination of all in connection with this transaction which will not exceed the maximum allowable under the policies of the TSX Venture Exchange.

On September 14, 2012, Advanced Explorations Inc. closed the transaction. The company issued 4,356,999 flow-through units for gross proceeds of CAD 1,045,680. The warrants will expire on September 14, 2014. Certain registered dealers were paid a finder's fee in the aggregate amount of CAD 63,672 and issued compensation options exercisable to acquire 265,299 common shares at an exercise price of CAD 0.24 per share, until September 14, 2014. The securities issued are subject to a hold period of four months and one day after date of issuance. The securities were issued to 10 investors including promoters Bryan Paul and Michela Syrie-Paul purchasing 20,000 units each. Foundation Markets Inc. received a finder's fee of CAD 63,000 and 262,500 compensation options, Penson Financial Services Canada Inc. received CAD 672.00 and 2,800 compensation options.