TORONTO, Dec. 20, 2018 /CNW/ - Virtus Mining Ltd. ("Virtus") announces that it has filed an early warning report with respect to the acquisition today of 78,181,161 common shares ("Common Shares") in the capital of Aldridge Minerals Inc. (TSX-V: AGM) ("Aldridge"), representing approximately 56.4% of the issued and outstanding Common Shares.
Virtus acquired ownership of the shares for cash consideration of C$0.10 per share, for total consideration of C$7,818,116.10, upon closing today of the plan of arrangement (the "Arrangement") announced on September 18, 2018 involving Aldridge and Virtus. Please see the press release of Aldridge dated December 20, 2018 for more information regarding the closing of the Arrangement.
Virtus held 62,278,053 Common Shares prior to the closing of the Arrangement and now owns or controls all the issued and outstanding Common Shares.
This news release is issued under the early warning provisions of applicable Canadian securities legislation. A copy of the early warning report filed by Virtus with applicable securities commissions in connection with this acquisition will be available for viewing under Aldridge's profile on SEDAR at www.sedar.com.
Aldridge's head office is located at 10 King Street East, Suite 300, Toronto, Ontario, Canada M5C 1C3.
SOURCE Aldridge Minerals Inc.
For further information: Virtus Mining Ltd., c/o Estera Corporate Services (BVI) Limited, Jayla Place, Wickhams Cay, Road Town, Tortola VG 1110, British Virgin Islands