VANCOUVER, BRITISH COLUMBIA - (Marketwired - Nov. 19, 2014) - Aldrin Resource Corp. (“Aldrin”) (TSX VENTURE:ALN) announces that it is proceeding with a $450,000 non-brokered private placement (the “Offering”) of flow through shares and non-flow through units. Flow-through shares are being offered at $0.042 per share and non-flow through units are being offered at $0.03 per unit. Each non-flow through unit will be comprised of one common share and one share purchase warrant. Each full warrant is exercisable into one additional common share at $0.055 per share for a period of 24 months from closing. Aldrin’s insiders are subscribing for $150,000 of non-flow through units. Proceeds of the Offering will be used for working capital and general and administrative expenses.
Finder’s fees on the gross proceeds of the Offering may be paid.
Aldrin’s Board of Directors has approved a six for one consolidation of Aldrin’s common shares. The Board of Directors deems the consolidation to be necessary in order to attract capital and provide value for future acquisitions. The Offering will be closed on a post-consolidated basis. Aldrin’s post-consolidated issued share capital will be 19,858,570 common shares. An additional 1,111,111 non-flow through shares and 992,063 flow-through shares will be issued on a post consolidated basis pursuant to the Offering. Aldrin will not effect a name change as part of the consolidation.
All securities issued on the proposed private placement will be subject to a four month hold period. The private placement and consolidation are 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.
Aldrin Resource Corp.
Suite 400, 570 Granville Street
Telephone: (604) 687-7741 (604) 687-7741
Facsimile: (604) 681-0796