/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
TORONTO, Feb. 22, 2013 /CNW/ - Aldridge Minerals Inc. (TSX Venture: AGM)
("Aldridge" or the "Company") is pleased to announce that it has closed
the non-brokered portion of its previously announced financing (the
"Offering"). The Company issued a total of 9,534,737 common shares on a
private placement basis at a price of $0.475 per common share and
222,463 special warrants to ANT Holding Anonim Sti ("ANT") for gross
proceeds of approximately $4.5 million. Each special warrant entitles
the holder to purchase one common share of the Company at a price of
$0.475 per common share for a period of 24 months. ANT purchased the
common shares and received the special warrants pursuant to the
exercise of pre-emptive rights held by ANT that entitle it to maintain
its pro rata interest in the Company in certain circumstances. By
exercising its rights, ANT has maintained its ownership of 30.1% of the
outstanding common shares of the Company.
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 for general working capital purposes. The Company
may pay a finder's fee of up to $226,500 to an arm's length
All securities issued under or in connection with the Offering are
subject to a four month hold period expiring June 23, 2013.
The securities offered have not been, nor will they be registered under
the United States Securities Act of 1933, as amended, or state
securities laws and were not offered or sold within the United States
or to, or for the account or benefit of, U.S. persons absent U.S.
federal and state registration or an applicable exemption from the U.S.
registration requirements. This release does not constitute an offer
for sale of securities in the United States.
Aldridge is a near development stage mining company focused on advancing
its Yenipazar gold and polymetallic VMS deposit (Ag, Cu, Pb, Zn) in
Turkey - a country that is committed to developing its natural
resources and is rapidly emerging as an economic powerhouse. Aldridge
is currently in the final stages of completing the Yenipazar
feasibility study, which we expect to deliver in March 2013. The
Yenipazar project is subject to an earn-in agreement with Alacer Gold
Corp., wherein Aldridge can earn a 100% working interest subject to
certain conditions, subject to a 6% net profit interest ("NPI",
revenues less operational costs) until revenues of US$165 million are
generated, and a 10% NPI from there on.
Additional information and corporate documents may be found on www.sedar.com and the Aldridge website, www.aldridgeminerals.ca.
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
failure to satisfy any of the conditions to completion of the Offering,
economic performance and future plans and objectives of Aldridge. Any
number of important factors could cause actual results to differ
materially from these forward-looking statements as well as future
results. Although Aldridge 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 new release, and no assurance can be given that
such events will occur in the disclosed timeframes or at all. Aldridge
disclaims any intention or obligation to update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise.
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.
SOURCE: Aldridge Minerals Inc.
For further information:
President & CEO, Director
Aldridge Minerals Inc.
Director, Investor Relations & Corporate Secretary
Aldridge Minerals Inc.