Aldrin Closes Non-Brokered Private Placement and Increases Drill Program to 4,000 Meters
13 Março 2014 - 1:07PM
Marketwired
Aldrin Closes Non-Brokered Private Placement and Increases Drill
Program to 4,000 Meters
VANCOUVER, BC--(Marketwired - Mar 13, 2014) - Aldrin Resource
Corp ("Aldrin") (TSX-VENTURE: ALN) (FRANKFURT: OAA) announces that
it has closed the non-brokered private placement previously
announced on February 19th 2014. Aldrin raised flow through
financing of $350,000 and non-flow through financing of $750,000
through the issuance of 4,666,666 flow through units at $0.075 per
unit and 13,636,363 non-flow through units at $0.055 per
unit. Each unit is comprised of one common share and a half
warrant. Each whole warrant attached to flow through units is
exercisable at $0.14 per share and each whole warrant attached to
non-flow through units is exercisable at $0.10 per share. All
warrants are exercisable for 24 months from closing. The
warrants are subject to an accelerated exercise provision in the
event Aldrin's shares trade at $0.18 or greater for a period of 20
consecutive trading days. All securities issued pursuant to
the financing are subject to a four month hold period. The
financing was oversubscribed. Agents' fees of $83,000 cash and
1,373,334 agents' warrants were paid in connection with the
financing. The agents' warrants are exercisable on the same
terms as the warrants which form part of the units.
Proceeds from the Financing and FT Financing will be used to
drill test Aldrin's priority uranium drill targets on the Triple M
Property. The drill camp is currently being constructed and it
is anticipated that drilling will commence within a few
days. Additionally, the drill program has been increased up to
as much as 4,000 m from the previously announced 3,000 m. The
targets are coincident structure, radon, magnetic, basement
conductor and gravity anomaly signatures, consistent with uranium
deposits elsewhere in the Athabasca Basin, including Fission
Uranium Corp.'s spectacularly high-grade discovery at Patterson
Lake. Aldrin believes that the coincidence of multiple
geological, geophysical and geochemical indications make these
drill targets among the strongest possibilities for discovery in
the region.
Aldrin's CEO Johnathan More states, "We are excited to drill
test our coincident geological, geochemical and geophysical
targets, which are precisely parallel to Fission's spectacular
high-grade uranium discovery at Patterson Lake."
About Aldrin Resource Corp.
Aldrin Resource Corp. is a Canadian-based uranium exploration
and development company trading on the TSX Venture Exchange (symbol
ALN). The company has assembled and exceptional exploration
property portfolio in one of the most exciting uranium exploration
regions in the world, the Patterson Lake District,
Saskatchewan. Aldrin will continue to identify high-grade
basement uranium deposits like those found in the Athabasca
Basin.
ALDRIN RESOURCE CORP. Suite 202, 837 West Hastings Street
Vancouver, B.C. V6C 3N6 Telephone: (604) 687-7741
Facsimile: (604) 681-0796
Aldrin Resources Corp. (TSXV:ALN)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024
Aldrin Resources Corp. (TSXV:ALN)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024