VANCOUVER, Aug. 14 /CNW Telbec/ - ANDOVER VENTURES INC. (the "Company")
(AOX: TSXV; R2X-FRANKFURT) is pleased to announce the closing of the second
tranche of the private placement (the "Private Placement") announced in a news
release dated July 2, 2008. Pursuant to the Private Placement, the Company
issued 130,000 units (the "Units") at a price of $0.50 per Unit for gross
proceeds of $65,000. Each Unit is comprised of one common share (a "Share") of
the Company and one half of one common share purchase warrant (a "Warrant").
Each full Warrant will entitle the holder to purchase one Share of the Company
at a price of $0.75 per Share for a period of 18 months from the closing date
of the Private Placement.
A 7% finder's fee was paid in accordance with the policies of the TSX
All securities issued pursuant to the private placement are subject to a
hold period expiring on December 6, 2008.
For information we invite you to visit us at www.andoverventures.com.
ON BEHALF OF THE BOARD
The TSX Venture Exchange has not reviewed nor does it accept
responsibility for the adequacy or accuracy of this press release.
For further information:
For further information: Investor Relations: Richard Martens, (604)
682-2168, Int'l Toll Free: 1-800-266-4484, Facsimile: (604) 682-2169; Renmark
Financial Communications Inc.: Jen Power, firstname.lastname@example.org; Neil
Murray-Lyon, email@example.com, (514) 939-3989, Fax: (514)