Advance United Holdings Inc.Announces Private Placement of Common Shares and Common Shares Issued on a Flow-Through Basis


Toronto, Ontario – (Newsfile Corp. – November 2, 2021) – Advance United Holdings Inc. (CSE: AUHI) (the “Society“) is pleased to announce a private placement without intermediary (the”Offer“) a maximum of 666,666 common shares (each, a”Ordinary actions“) in the capital of the Company at a price of $ 1.50 per common share for total gross proceeds of up to $ 1,000,000 and up to 1,000,000 common shares issued on a flow-through basis (“Flow-through shares“) at a price of $ 1.50 per flow-through share for total gross proceeds of up to $ 1,500,000. Flow-through shares will be considered as“ flow-through shares ”within the meaning of subsection 66 (15) of the Income Tax Act (Canada).

All securities issued in connection with the offering will be subject to a hold period of four months plus one day from the date of issue and the resale rules of applicable securities legislation. The net proceeds from the sale of the Common Shares will be used for general working capital purposes. The gross proceeds from the sale of the flow-through shares will be used by the Company to incur eligible “Canadian exploration expenses” which will be qualified as “flow-through expenses” as these terms are defined in the Income Tax Act (Canada).

Closing of the Offering is subject to certain conditions including, but not limited to, receipt of all necessary regulatory and other approvals, including approval from the Canadian Securities Exchange.

This press release does not constitute an offer to sell or a solicitation of an offer to sell any 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 Law“) or any state securities law and may not be offered or sold in the United States or to persons in the United States unless registered under the US Securities Act and securities laws applicable state securities or an exemption from such registration is available.

For more information please contact:

Advance United Holdings Inc.
James Atkinson P. Geo., CEO
Phone. : (647) 278-7502
Email: [email protected]a

Forward-looking information

This press release contains “forward-looking information” within the meaning of applicable securities laws relating to trading on the CSE and the direction of the Company’s activities. Such forward-looking statements may be identified by words such as “expects”, “anticipates”, “intends”, “contemplates”, “believes”, “plans”, “plans” and similar expressions. Forward-looking statements contained in this press 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, ability of the Company 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 interpreted as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those implied by such statements. Although these statements are based on reasonable assumptions of management, there can be no assurance that the Company will continue to operate as described above. Readers are encouraged to refer to the Company’s annual and quarterly MD&A and other documents filed periodically by the Company with Canadian securities regulators 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.

NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR FOR DISTRIBUTION IN THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/101769


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