SYS-CON MEDIA Authors: Doug Masi, Mat Mathews, PR.com Newswire, David Smith, Tim Crawford

News Feed Item

Aldrin Announces $500,000 Non-Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 03/24/14 -- Aldrin Resource Corp. ("Aldrin") (TSX VENTURE:ALN) announces a non-brokered private placement of units at $0.08 per unit for total gross proceeds of $500,000 (the "Financing"). Each unit will be comprised of one common share and one share purchase warrant. Each full warrant is exercisable into one additional Aldrin common share at $0.12 per share for a period of 24 months from closing. Only one subscriber is participating in the Financing.

Proceeds of the Financing will be used to expand Aldrin's 2014 drilling program on its Triple M Property. Aldrin will pay a cash commission of eight percent (8%) of the proceeds raised and warrants equal to eight percent (8%) of the number of units which are placed by agents who assist with the Financing.

All securities issued on the proposed private placement will be subject to a four month hold period. The Financing is being filed on an expedited basis and is subject to TSX Venture Exchange approval. The private placement will not result in a change of control of Aldrin.

ON BEHALF OF THE BOARD

Johnathan More, CEO and Director

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.

Contacts:
Aldrin Resource Corp.
(604) 687-7741
(604) 681-0796 (FAX)

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.