Orion Fund JV Limited Agrees to Acquire Shares of Aldridge Minerals Inc.

TORONTO, Aug. 29, 2014 /CNW/ - Orion Fund JV Limited ("Orion") reports that it has entered into a subscription agreement with Aldridge Minerals Inc. ("Aldridge") whereby Orion has agreed to acquire ownership of 11,660,611 common shares ("Shares") of Aldridge pursuant to a private placement offering at a subscription price of US$0.45 per Share for an aggregate amount of $5,247,274.95. 

After giving effect to the private placement, Orion will own 11,660,661 Shares representing approximately 10.9% of the issued and outstanding Shares, assuming the completion of a concurrent private placement of 10,561,611 Shares. 

The Shares will be 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 a news release issued by Aldridge on August 29, 2014.  Orion will also acquire anti-dilution rights which will 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

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: [phone]