/NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES/
TORONTO, Feb. 18 /CNW/ - Aldridge Minerals Inc. (TSXV: AGM) ("Aldridge" or the "Company") announced today that it has closed the
bought deal financing previously announced on January 24, 2011 (the
"Offering"). Pursuant to the Offering, the Company issued 8,283,100
units (the "Units') at a price of $1.50 per Unit for gross proceeds of
Each Unit consists of one common share and one-half of one common share
purchase warrant of the Company. Each whole warrant entitles the holder
thereof to purchase one additional common share of the Company at a
price of $2.00 for a period of 24 months from the date of the closing
of the Offering.
The Offering was led by Dundee Securities Corporation and included
Clarus Securities Inc., Raymond James Ltd. and Macquarie Capital
Markets Canada Ltd (the "Underwriters"). As compensation for services
rendered in connection with the Offering, the Company paid to the
Underwriters an aggregate cash commission equal to 7% of the gross
proceeds raised and issued to the Underwriters non-transferrable broker
warrants to acquire 7% of the number of units sold under the Offering,
at a price per unit of $1.50, for a period of 24 months from the date
of the closing of the Offering.
The units and warrants issued under the Offering will be subject to a
hold period in Canada which will run until the day that is four months
and one day after the date of the closing of the Offering.
The net proceeds of the financing will be used to advance the
exploration and development of the Company's Yenipazar property in
central Turkey and MAG1 in Papua New Guinea and for general working
About Aldridge Minerals
Aldridge Minerals Inc. is mainly focused on mineral opportunities in
Turkey where the Company is conducting an ambitious exploration and
development program at its flagship Yenipazar polymetallic VMS project.
Aldridge has also identified several other prospective opportunities in
Turkey as well as Papua New Guinea, where the company has amassed a
large property position with a systematic exploration program currently
Neither 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.
Caution Regarding Forward-Looking Information
This news release includes certain forward-looking statements within the
meaning of Canadian securities laws. Forward-looking statements involve
risks, uncertainties and other factors that could cause actual results,
performance, prospects and opportunities to differ materially from
those expressed in such forward-looking statements. Forward-looking
statements in this news release, include, but are not limited to,
economic performance and future plans and objectives of Aldridge
Minerals Inc. Any number of important factors could cause actual
results to differ materially from these forward-looking statements as
well as future results. Although Aldridge Minerals believes that the
assumptions and factors used in making the forward-looking statements
are reasonable, undue reliance should not be placed on these
statements, which only apply as of the date of this news release, and
no assurance can be given that such events will occur in the disclosed
timeframes or at all. Aldridge Minerals disclaims any intention or
obligation to update or revise any forward-looking statement, whether
as a result of new information, future events or otherwise.
SOURCE Aldridge Minerals Inc.
For further information:
Aldridge Minerals Inc., Jacob Willoughby, President and Director, (416) 558-4717
TMX Equicom, Patrick Piette, (416) 815 0700 x 267