Standard & Poor's Initiates Factual Stock Report Coverage on Advanced Explorations, Inc.
Thu Feb 14, 10:56 AM
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NEW YORK--(BUSINESS WIRE)--Standard & Poor’s announced today that it has commenced Factual Stock Report coverage on Advanced Explorations, Inc.
Advanced Explorations Inc. (TXV: AXI), in the development stage as of Sept. 30, 2007, holds an interest in the Roche Bay Magnetite Project located near Roche Bay, on the eastern Melville Peninsula, within Nunavut Territory, Canada. The core focus of the company is on the development of the Roche Bay iron ore magnetite project and other iron ore projects.
The company has an option to acquire up to a 50.1% interest in the Roche Bay Project. In December 2007, the company reported that it had earned a 15% interest in the project.
The Roche Bay Project consists of four mining leases on outcroppings of a banded iron formation. Advanced Explorations believes that the eastern-most exposures are ideally located, as they are within six kilometers of tide water. Airborne magnetics and ground mapping indicate approximately 13 kilometers of iron formation within the two eastern leases. According to the company additional strike potential has been identified on the other two leases.
On Dec. 6, 2007, Advanced Explorations announced the signing of a memorandum of understanding with Melville Capital Corp. to work together in the development of business opportunities both local to and associated with the Roche Bay iron ore project. The arrangement contemplates up to C$65,000,000 in financing.
This report will also be accessible on an ongoing basis to the investment community ---- scores of buy-side institutions and sell-side firms that utilize S&P research and information platforms daily. Millions of self-directed investors also have access to the report via their e-brokerage accounts.
THE TSX VENTURE EXCHANGE HAS NEITHER APPROVED OR DISAPPROVED OF THE CONTENTS HEREIN.
This news release also includes forward-looking statements that involve a number of risks and uncertainties. The information reflects numerous assumptions as to industry performance, general business and economic conditions, regulatory and legal requirements, taxes and other matters, many of which are beyond the control of the company. Similarly, this information assumes certain future business decisions that are subject to change. There can be no assurance that the results predicted here will be realized. Actual results may vary from those represented, and those variations may be material.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of 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 Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Standard & Poor's Factual Stock Reports
This Standard & Poor’s service provides factual research coverage enabling information about Advanced Explorations, Inc. and other securities to reach a wide investor audience of Buy and Sell-side investors, helping them understand a company’s fundamentals and business prospects. Currently profiling over 1,000 issuers, S&P Factual Stock Reports increase market awareness for issuers in the investment community with insightful commentary and key statistics/information. Updated weekly with the latest pricing, trading volume, and other data, the reports include recent developments, a financial review, key operating information, Industry and peer comparisons, institutional holdings analysis, Street Consensus and opinions, performance charts, business summary, fundamental data, and news. Because coverage of these reports is sponsored by the issuer, S&P does not offer investment opinions concerning the advisability of investing in these stocks.
Standard & Poor’s Factual Stock Reports are produced separately from any other analytic activity of Standard & Poor’s. Standard & Poor’s Factual Report research has no access to non-public information received by other units of Standard & Poor’s. Standard & Poor’s does not trade on its own account.
Note: All U.S. and Canadian Companies listed on a National Exchange (not covered by S&P’s STARS research) are eligible to obtain this coverage.
About Standard & Poor's
Standard & Poor's, a division of The McGraw-Hill Companies (NYSE: MHP), is the world's foremost provider of financial market intelligence, including independent credit ratings, indices, risk evaluation, investment research and data. With approximately 7,500 employees, including wholly owned affiliates, located in 21 countries, Standard & Poor's is an essential part of the world's financial infrastructure and has played a leading role for more than 140 years in providing investors with the independent benchmarks they need to feel more confident about their investment and financial decisions. For more information, visit www.standardandpoors.com.
Advanced Explorations, Inc.
John Gingerich, 416-203-0057
john@advanced-exploration.com
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Standard & Poor's
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Richard Albanese, 212-438-3647
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