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July 2, 2008
- Vancouver, British Columbia. Appleton Exploration Inc.
(TSXV:AEX) has arranged a non-brokered private placement offering of up
to 5,000,000 units priced at $0.20 per unit, for gross proceeds of up to
$1,000,000, subject to acceptance for filing by the TSX Venture
Exchange. Each unit is comprised of one common share and one
warrant, with each warrant entitling the holder to acquire one additional
common share at an exercise price of $0.30 per share, for one
year. If at any time during the period of the warrant the 20
day moving average of the market price of the shares exceeds $0.45 per
share, the Company may request the exercise of the warrants.
Finder 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 financing will be used for exploration expenditures on
the Company's British Columbian and Chilean projects and for general
working capital.
On Behalf of the
Board of Directors,
"R. Tim Henneberry"
R.Tim Henneberry, P.Geo.
President and CEO
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For further
information, please contact:
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For Investor Relations Information contact:
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Tim Henneberry: (604) 694-0741
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Contact Financial
Corp.
604.689.7422 Toll Free 1.877.689.7411
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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.
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