TORONTO, June 4 /CNW/ - The Company is pleased to announce that it has obtained regulatory approval from the TSX Venture Exchange (the "Exchange") for a debt conversion. Pursuant to the terms of the Director Compensation and Consulting Agreement between CMR Capital Corp. ("CMR") and the Company dated January 2, 2009, the Company owed CMR $81,563. The Company converted debt in the amount of $40,000 owed to CMR into 56,800 common shares in the capital of the Company at a subscription price of CAD$0.70 per common share in accordance with Exchange's policies (the "Common Shares"), and the remaining amount owed to CMR will be paid in cash (collectively, the "Payment"). Upon such Payment by the Company to CMR, the debt will be deemed to have been fully settled and repaid. The Common Shares will be subject to a four-month hold period under applicable Canadian securities laws.
About Aldridge Minerals
Aldridge Minerals Inc. is 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 and Papua New Guinea, and has amassed a large property position where a systematic exploration program is underway.
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.
SOURCE Aldridge Minerals Inc.
For further information: For further information: Aldridge Minerals Inc., Jacob Willoughby, President and Director, (416) 558-4717, www.aldridgeminerals.com; The Equicom Group Inc., James Kitchen, (416) 815-0700 x 267 or Dave Feick, (403) 218-2839, www.equicomgroup.com