Aldrin Closes Private Placement Financing and Acquisition of Triple M Property Option
July 19, 2013 — Vancouver, BC (Source: Marketwired) — Aldrin Resource Corp. (“Aldrin”) (TSX VENTURE:ALN) has closed a private placement financing of 11,973,500 units at a price of $0.08 per unit to raise gross proceeds of $957,880 (the “Private Placement”). Each unit is comprised of one common share and one half warrant. Each whole warrant is exercisable into one common share at $0.18 per share for 12 months from closing. Proceeds of the Private Placement will be used to complete a phase one exploration program and for option payments on Aldrin’s newly acquired Triple M Property and for general working capital. Closing of the Triple M Property acquisition occurred concurrently with closing of the Private Placement. Both the acquisition and Private Placement have received final TSX Venture Exchange approval.
Aldrin is also issuing 12,500,000 common shares in partial consideration of its option on the Triple M Property and 588,680 brokers’ warrants exercisable at $0.18 per share for 12 months from closing. 1,052,500 common shares are being issued as a finder’s fee in connection with the Triple M Property acquisition. All shares and warrants issued pursuant to the Private Placement and Triple M Property option agreement are subject to a four month hold period from the date of closing.
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Aldrin’s Triple M Uranium Property is located in the Paterson Lake Area of Saskatchewan within the Athabasca Basin. The property consists of 6 claim blocks totalling 12,001 ha and is bordering the Fission Uranium Corp./Alpha Minerals Inc. Discovery at Paterson Lake 9km south to 11km west of their recent discovery.
ON BEHALF OF THE BOARD OF DIRECTORS
Johnathan More, CEO and Director
Issued Share Capital: 66,126,000
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.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>