Appleton Increases Non-brokered Private Placement
March 24, 2009 - Vancouver, British Columbia. Appleton Exploration Inc. (AEX – TSX.V) reports that the Company has amended the non-brokered private placement offering previously announced on February 20, 2009, to increase the number of units offered from 10,000,000 units to 10,010,655 units, priced at $0.07 per unit, for gross proceeds of $700,746, subject to acceptance for filing by the TSX Venture Exchange.
All other terms and conditions of the offering remain the same, with each unit being comprised of one common share and one warrant. Each warrant will entitle the holder to acquire one additional common share at an exercise price of $0.10 per share for 12 months. Finders’ fees and/or commissions may be paid in accordance with TSX Venture Exchange policies.
Securities issued pursuant to the private placement are subject to a four month hold period.
Proceeds of the private placement will be used for general working capital, acquisition and exploration expenditures on the Manalo gold project.
On Behalf of the Board of Directors,
“R. Tim Henneberry”
R.Tim Henneberry, P.Geo.
President and CEO
For further information, please contact:
Tim Henneberry: (604) 694-0741
For Investor Relations Information contact:
Contact Financial Corp.
604.689.7422 | Toll Free 1.877.689.7411
R. Tim Henneberry, P.Geo. , President, CEO & Director of the Company, is the Qualified Person as defined in
National Instrument 43-101, who has reviewed and approved the technical content of this news release.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.