|
Aldridge
Minerals Inc.
Aldridge
Minerals Inc. Completes Non-Brokered
Private Placement
Vancouver, British Columbia - December 3, 2007:
Aldridge Minerals Inc. (the "Company") is pleased to announce
that it has completed the initial tranche of its private placement
originally announced on September 6, 2007. The private placement
consisted of 962,040 units at a price of $2.50 per unit raising gross
proceeds of $2,405,100. Each unit consists of one common share and
one share purchase warrant, with each warrant entitling the holder to
acquire one additional common share at a price of $3.50 per share until
November 29, 2008. The Company paid a finder's fee consisting of
32,084 units and $120,255 in cash. The securities issued under the private
placement are subject to a four month hold period expiring on March 30,
2008.
The proceeds of the private placement will be used for continuing
exploration and drill programs on the Company's mineral properties in
Turkey and for general working capital purposes. The Company will pay a
finder's fee incidental to the financing in accordance with Exchange policies.
The private placement and payment of a finder's fee are subject to TSX
Venture Exchange acceptance.
Aldridge Minerals Inc. is wholly focused on mineral opportunities in
Turkey where the Company is conducting an ambitious exploration and
development program at its flagship Yenipazar polymetallic VMS project. A
Preliminary Economic Assessment as well as an updated resource calculation
is scheduled for Q2 2008, subject to the eventually determined size of the
deposit and progress of respective resource definition drilling. Aldridge
has also identified several prospective nickel opportunities in Turkey and
has amassed a large property position where a systematic development
program has commenced.
On behalf of the Board of Directors
_________________________________
DR. HIKMET AKIN
* * * * * * * * *
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
For further information please contact:
Aldridge Minerals Inc.
Hikmet Akin, President & Director
Tel. +1 (604) 737 2743
Fax +1 (604) 737 2743
http://www.aldridge-minerals.com/
The Equicom Group
Martti Kangas
Investor Relations
Tel. +1 (416) 815-0700 x243
mkangas@equicomgroup.com
Powered by AXINO Mailservice
This mail distribution is a service of AXINO AG, Stuttgart on behalf of
Aldridge Minerals Inc., Vancouver, Canada. This message is for information
purposes only. AXINO AG does not take any liability for the correctness of
the information sent. Recipients, that make investment decisions or
transactions, are completely acting on their on responsibility.
|