ABERDEEN INTERNATIONAL INC. ("Aberdeen", or the "Company")
(TSX:AAB) today announces that the value of its investment
portfolio as at October 31, 2012, the end of its 2013 third fiscal
quarter, was approximately $66.7 million including a cash balance
of $1.1 million. This equates to a value of $0.77 per basic share
outstanding based on Aberdeen's investment portfolio alone. This
report of the portfolio value is not equivalent to the net asset
value that has been previously reported by Aberdeen as it does not
include assets and liabilities of the company that are not treated
as investments. Rather, this report refers only to the cash, equity
investments (private and public), option-type investments (for
example, warrants) and corporate debt/loans receivable of the
Company.
The value of the investment portfolio decreased from the second
quarter results for the period ended July 31, 2012, by
approximately $4.9 million or 6.8 percent. Third quarter financial
results are expected to be released on or before December 14, 2012,
which include the Company's other assets and liabilities.
October 31, 2012 January 31, 2012 October 31, 2011
Shares
outstanding 86,272,302 86,100,139 86,872,139
$ $/Shares $ $/Shares $ $/Shares
---------------------------------------------------------------
Cash on hand 1,118,673 0.01 7,372,118 0.09 7,384,383 0.09
Investments
Publicly
traded 31,332,470 0.363 51,916,759 0.603 59,280,908 0.682
Private 13,848,609 0.161 16,325,377 0.190 17,624,515 0.203
Non-trading
warrants
Intrinsic
value 100,650 0.001 1,915,000 0.022 2,757,980 0.032
Option
value 841,105 0.010 2,170,214 0.025 471,610 0.005
---------------------------------------------------------------
941,755 0.011 4,085,214 0.047 3,229,590 0.037
---------------------------------------------------------------
Portfolio
Investments 46,122,834 0.535 72,327,350 0.840 80,135,013 0.922
Loans /
preferred
shares 19,500,707 0.226 3,459,778 0.040 12,588,729 0.145
---------------------------------------------------------------
Total 66,742,214 0.774 83,159,246 0.966 100,108,125 1.152
---------------------------------------------------------------
---------------------------------------------------------------
David Stein, President and CEO stated "After a healthy rebound
in early Q3, the junior market turned sour again, this combined
with negative Company-specific news from our Sulliden and Forbes
Coal, two of our largest holdings, led to the unrealized loss for
the quarter. It is worth noting for the purposes of this portfolio
update we have held the value of our Premier Royalty Corp.
convertible debenture at face value of $9.4 mm, however based on
the recent trading price of its previously announced merger
partner, Bridgeport Ventures, the completion of this deal could
result in an unrealized gain of approximately $9.7 mm. The
security-holder meeting date for this deal is currently scheduled
for November 30th and if approved would be expected to close
shortly thereafter. If the deal does close at that time, the gain
will be reflected in our Q3 financial statements to be released in
mid-December."
Normal Course Issuer Bid
During the nine months ending October 31, 2012, 727,800 common
shares were purchased for cancellation at an average cost of 44
cents. Subsequent to October 31, 2012 an additional 94,900 common
shares were purchased for cancellation at an average cost of 33
cents.
About Aberdeen International Inc:
Aberdeen is a publicly traded global investment and merchant
banking company focused on small cap companies in the resource
sector. Aberdeen will seek to acquire significant equity
participation in pre-IPO and/or early stage public resource
companies with undeveloped or undervalued high-quality resources.
Aberdeen will focus on companies that: (i) are in need of
managerial, technical and financial resources to realize their full
potential; (ii) are undervalued in foreign capital markets; and/or
(iii) operate in jurisdictions with moderate local political risk.
Aberdeen will seek to provide value-added managerial and board
advisory services to companies. The Corporation's intention will be
to optimize the return on its investment over an 24 to 36 month
investment time frame.
For additional information, please visit our website at
www.aberdeeninternational.ca and follow us on Facebook and Twitter:
AberdeenAAB.
Cautionary Note
Except for statements of historical fact contained herein, the
information in this press release constitutes "forward-looking
information" within the meaning of Canadian securities law. Such
forward-looking information may be identified by words such as
"plans", "proposes", "estimates", "intends", "expects", "believes",
"may", "will" and include without limitation, statements regarding
the impact of the appointment on Aberdeen; past success as an
indicator of future success; net asset value of the Company; the
potential of investee companies and the appreciation of their share
price; the future intentions of the Company with regard to its
shareholdings; the Company's plan of business operations; and
anticipated returns. There can be no assurance that such statements
will prove to be accurate; actual results and future events could
differ materially from such statements. Factors that could cause
actual results to differ materially include, among others, metal
prices, competition, financing risks, acquisition risks, risks
inherent in the mining industry, and regulatory risks. Most of
these factors are outside the control of the Company. Investors are
cautioned not to put undue reliance on forward-looking information.
Except as otherwise required by applicable securities statutes or
regulation, the Company expressly disclaims any intent or
obligation to update publicly forward-looking information, whether
as a result of new information, future events or otherwise.
Contacts: Aberdeen International Inc. Mike McAllister Manager,
Investor Relations +1 416-309-2134info@aberdeeninternational.ca
Aberdeen International Inc. David Stein President and Chief
Executive Officer +1 416-861-5812dstein@aberdeeninternational.ca
www.aberdeeninternational.ca
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