Mr. Johnathan More reports
ALDRIN ANNOUNCES DEBT FINANCING
Aldrin Resource Corp. has secured working capital debt financing of $150,000 from non-arm's-length parties. The proceeds will be expended on the recently acquired Key Lake property and for general working capital purposes. The loan will be for a term of one year and bears interest at the rate of 12 per cent per annum, calculated and compounded annually and paid quarterly. As an inducement to grant the loan, Aldrin will issue the lenders 122,448 common shares of Aldrin, which are equal to 20 per cent of the principal amount of the loan at a deemed price of 24.5 cents per share. The shares will be subject to a hold period expiring four months and one day after the date of issuance. The loan is subject to regulatory approval.
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Aldrin Resource Corp.
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EXPLORATION STAGE |
CODE : ALN.V |
ISIN : CA0144311002 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Aldrin Resource is a exploration company based in Canada. Its main exploration properties are KEYSTONE, LONGLINE, BREW and IND in Canada. Aldrin Resource is listed in Canada. Its market capitalisation is CA$ 4.5 millions as of today (US$ 3.4 millions, € 3.2 millions). Its stock quote reached its highest recent level on June 04, 2010 at CA$ 5.94, and its lowest recent point on November 17, 2016 at CA$ 0.07. Aldrin Resource has 47 390 000 shares outstanding. |