Amseco Exploration Ltd (TSXV:AEL) announced a non brokered private placement of 30,000,000 units at CAD 0.01 per unit for gross proceeds of CAD 300,000 on December 17, 2012. Each unit will consist of one common share and one purchase warrant. Each warrant entitles the holder to acquire one common share for a period of 12 months from closing at CAD 0.05 per share. The minimum subscription will be in tranches of CAD 1,500 and shares will be subject to a six months hold period and to the TSX venture exchange approval. The company also announced that at least 75% of the placement must be subscribed for by persons that are not related parties.

On June 18, 2013, the company announced that the minimum subscription will be in tranches of 150,000 shares at price of CAD 0.01 per share for proceeds of CAD 1,500 and the shares will be now subject to 120 days hold period. There will be no warrants issued in the transaction.

On July 10, 2013, Amseco Exploration Ltd closed the transaction. The transaction included participation from 15 placees along with François Lecomte, an insider of the company who subscribed for 100,000 common shares.