TORONTO, Sept. 26, 2014 /CNW/ - Orion Fund JV Limited ("Orion") reports that it has acquired ownership of 11,660,611 common shares ("Shares") of Aldridge Minerals Inc. ("Aldridge") pursuant to a private placement offering at a subscription price of US$0.45 per Share for an aggregate amount of US$5,247,275.
Orion owns 11,660,661 Shares representing approximately 10.9% of the issued and outstanding Shares.
The Shares were acquired in connection with a US$35 million bridge loan facility and the entering into of offtake agreements for lead concentrate and gold as disclosed in news releases issued by Aldridge on August 29, 2014 and September 26, 2014. Orion also acquired anti-dilution rights which allow Orion to participate in future financings of Aldridge. Subject to availability, price, the general state of the capital markets and the financial condition of Aldridge from time to time, Orion may purchase or sell securities of Aldridge.
For further information and to obtain a copy of the early warning report filed under applicable Canadian securities laws in connection with the private placement, please see below or Aldridge's profile on the SEDAR website at www.sedar.com.
SOURCE: Orion Fund JV Limited
For further information: Orion Fund JV Limited, c/o Appleby Management (Bermuda) Ltd., Canon's Court, 22 Victoria Street, PO Box HM 1179, Hamilton HM EX, Bermuda; Limor Nissan, Telephone: (212) 596-3488