ARA Anconia Resources Corp

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT
AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES


Anconia Resources Corp. (TSX VENTURE:ARA) ("Anconia" or the "Company") is
pleased to announce the closing of an additional tranche of its previously
announced non-brokered private placement offering of units ("Units") and
flow-through units ("Flow-Through Units") (the "Offering") (see the Company's
news release dated August 20, 2013). On closing, Anconia issued 950,000 Units at
$0.10 per Unit and 285,000 Flow-Through Units at $0.12 per Flow-Through Unit,
for aggregate gross proceeds of $129,200. To date, Anconia has raised gross
proceeds of approximately $1.76 million under the Offering.


Each Unit consists of one common share of the Company and one-half of one common
share purchase warrant (a "Unit Warrant"). Each whole Unit Warrant entitles the
holder to purchase one common share of the Company at a price of $0.14 per share
for a period of 18 months following the date of issuance.


Each Flow-Through Unit consists of one common share of the Company issued on a
'flow-though' basis and one-half of one common share purchase warrant (a "FT
Warrant"). Each whole FT Warrant entitles the holder to purchase one common
share of the Company at a price of $0.16 per share for a period of 18 months
following the date of issuance.


The aggregate proceeds raised under the Offering will be used, among other
things, to conduct exploration on the Company's properties and for working
capital purposes. Proceeds from the sale of the Flow-Through Units will be used
for Canadian Exploration Expenses on the Company's properties.


In connection with the closing of this latest tranche of the Offering, Anconia
has paid to certain finders ("Finders") an aggregate cash commission of $7,152
and issued to the Finders warrants ("Finders' Warrants") to acquire up to an
aggregate of 68,100 common shares of Anconia at $0.10 per share for a period of
24 months following the date of issuance. Anconia anticipates that it will also
pay to Finders an additional cash commission of $3,184 and issue an additional
30,700 Finders' Warrants.


All of the securities issued under this tranche of the Offering are subject to a
statutory hold period in Canada expiring four months from the date of issue.


About Anconia

Anconia is a base and precious metals exploration and development company, which
is focused on providing shareholder value through the advancement of its
properties in the Nunavut Territory, Canada. Anconia is undertaking a
comprehensive exploration program to determine the potential of the projects
currently in its portfolio.


Forward-Looking Information

This news release contains forward looking statements and information under
applicable securities laws, including with respect to the anticipated use of the
proceeds of the Offering. Words such as "may", "will", "should", "anticipate",
"plan", "expect", "believe", "estimate" and similar terminology are used to
identify forward-looking statements and forward-looking information. Such
statements and information are based on assumptions, estimates, opinions and
analysis made by management of Anconia in light of its experience, current
conditions and its expectations of future developments as well as other factors
which it believes to be reasonable and relevant. Forward-looking statements and
information involve known and unknown risks, uncertainties and other factors
that may cause actual results to differ materially from those expressed or
implied in the forward-looking statements and information. Risks and
uncertainties that may cause actual results to vary include but are not limited
to: the speculative nature of mineral exploration and development, including the
uncertainty of mineral reserve and resource estimates; uncertainties relating to
the availability and costs of financing needed to complete exploration
activities; exploration costs varying significantly from estimates; delays in
the exploration and development of, and/or commercial production from, the
properties in which Anconia has an interest; unexpected geological or
hydrological conditions; operational and technical difficulties; fluctuations in
commodity prices; the existence of undetected or unregistered interests or
claims, whether in contract or in tort, over the property of Anconia; success of
future exploration and development initiatives; competition; operating
performance of facilities; environmental and safety risks, including increased
regulatory burdens, seismic activity, weather and other natural phenomena;
inability to, or delays in, obtaining necessary permits and approvals from
government authorities; risks relating to labour; and other exploration,
development and operating risks; changes to and compliance with applicable laws
and regulations, including environmental laws and obtaining requisite permits;
as well as other risks and uncertainties which are more fully described in
Anconia's annual and quarterly Management's Discussion and Analysis and in other
filings made by Anconia with Canadian securities regulatory authorities and
available at www.sedar.com.


Forward-looking information speaks only as of the date on which it is provided
and, except as may be required by applicable securities laws, Anconia disclaims
any intent or obligation to update any forward-looking information, whether as a
result of new information, future events or results or otherwise. Although
Anconia believes that the assumptions inherent in the forward-looking
information are reasonable, forward-looking information is not a guarantee of
future performance and accordingly undue reliance should not be put on such
information due to the inherent uncertainty therein.


Neither the 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Anconia Resources Corp.
Jason Brewster
416-815-9777

Anconia Resources (TSXV:ARA)
Historical Stock Chart
Von Mai 2024 bis Jun 2024

Anconia Resources (TSXV:ARA)
Historical Stock Chart
Von Jun 2023 bis Jun 2024