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Erdene Closes $1,000,000 Private Placement Financing, MIBG Completes Mongolian Investor Portion
Published : December 21, 2012
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HALIFAX, NOVA SCOTIA--(Marketwire - Dec. 21, 2012) - Erdene Resource Development Corp. (News - Market indicators) ("Erdene" or "Company"), is pleased to announce that it has closed the private placement announced on December 12, 2012 that was limited to $1,000,000 and comprised of 5,882,353 Units priced at $0.17 per Unit. Each Unit is comprised of one common share of the Company and one-half of one common share purchase warrant, with each whole common share purchase warrant entitling the holder to purchase one common share of the Company at a price of $0.25 for a 24-month period.

All securities issued pursuant to the private placement are subject to a four month hold period. The Company paid cash commissions of $22,800 for the brokered portion of the financing, the majority of which was paid to Mongolian Investment Banking Group LLC ("MIBG") which secured subscriptions from Mongolian investors who participated in the financing.

Net proceeds of the Private Placement will be used to advance the Company's projects in Mongolia and for general working capital. Project expenditures will primarily be directed to the Company's 100% owned Altan Nar ('Golden Sun') gold-silver project in southwestern Mongolia. Altan Nar was discovered by Erdene geologists in late 2011 and is emerging as one of the more significant gold discoveries in Mongolia in recent years. Exploration work completed to date, including more than 8,200 metres of Diamond drilling, has confirmed multiple gold-silver zones over a 5 kilometre by 1.5 kilometre area with individual zones returning up to 29 metres of 4.3 g/t gold and 24.1 g/t silver. The 2012 program identified multiple targets that require scout and further delineation drilling throughout the property. 

For more details on the Altan Nar project and Erdene's other interests please visit Erdene's website at www.erdene.com.

About MIBG

Located in Ulaanbaatar, the Mongolian Investment Banking Group LLC ("MIBG") is a financial boutique, providing a select range of financial services and products designed specifically to generate value within the mining and resources sector of Mongolia. MIBG has trading rights on the Mongolian Stock Exchange and direct access to international exchanges including the Toronto Stock Exchange, Australian Stock Exchange, Honk Kong Stock Exchange, New York Stock Exchange, and the London Stock Exchange.

Qualified Person

J.C. (Chris) Cowan, P.Eng. (Ontario) is a Qualified Person as that term is defined in National Instrument 43-101 and has reviewed and approved the technical information contained in this news release. All samples have been assayed at SGS Laboratory in Ulaanbaatar, Mongolia. In addition to internal checks by SGS Laboratory, the Company incorporates a QA/QC sample protocol utilizing prepared standards, blanks and duplicates.

About Erdene

Erdene Resource Development Corp. is focussed on exploration and development in Asia, primarily Mongolia. Erdene has a very experienced technical and management team and has assembled a strong portfolio of gold, copper-gold, molybdenum-copper, and coal projects in Mongolia. These projects, and its in-country experience, provide the Company with a unique opportunity to participate in this period of unprecedented economic growth in Mongolia. This growth is fuelled by proximity to China and the discovery and development of a number of world-class mineral projects that are transforming the country into one of Asia's natural resource capitals.

After giving effect to this offering, Erdene has 53,785,300 issued and outstanding common shares, 59,102,977 fully diluted.

Forward-Looking Statements

Certain information regarding Erdene contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Erdene believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Erdene cautions that actual performance will be affected by a number of factors, most of which are beyond its control, and that future events and results may vary substantially from what Erdene currently foresees. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration results, continued availability of capital and financing and general economic, market or business conditions. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and is subject to change after that date. Erdene does not assume the obligation to revise or update these forward-looking statements, except as may be required under applicable securities laws.

NO REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE CONTENTS OF THIS RELEASE



Erdene Resource Development Corp.
Peter C. Akerley, President and CEO
or
Ken W. MacDonald
Vice President Business Strategy and CFO
(902) 423-6419
info@erdene.com
www.erdene.com
Data and Statistics for these countries : China | Mongolia | All
Gold and Silver Prices for these countries : China | Mongolia | All
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Erdene Resource Development Corporation

EXPLORATION STAGE
CODE : ERD.TO
ISIN : CA29480N2068
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In the News and Medias of Erdene Resource Development Corporation
1/24/2014Erdene shares fly on growing Altan Nar gold-polymetallic dis...
7/27/2011Chalco signs coal purchase deal with Mongolia's Erdenes Tava...
Annual reports of Erdene Resource Development Corporation
2008 Annual report
2007 Annual report
2006 Annual report
2005 Annual report
Financings of Erdene Resource Development Corporation
4/23/2013Closes Private Placement
12/21/2012Closes $1,000,000 Private Placement Financing, MIBG Complete...
12/21/2012Closes $1,000,000 Private Placement Financing, MIBG Complete...
12/12/2012Announces Private Placement
12/6/2011Completes Private Placement Financing
11/28/2011Closes $1,715,000 Financing Pursuant to Private Placement Th...
6/20/2008Closes $18.6 Million Private Placement
6/2/2008Announces $15 Million Private Placement
Financials of Erdene Resource Development Corporation
8/17/2009Reports 2009 Second Quarter Financial Results and Provides P...
5/19/2009Reports 2009 First Quarter Financial Results and Provides Pr...
4/1/2009Reports Year End Financial Results and Provides Project Upda...
5/15/2008Reports First Quarter Operating and Financial Results
Project news of Erdene Resource Development Corporation
11/18/2013Completes Trenching Program on the Altan Nar Gold-Silver Pro...
8/8/2012(Donkin)Finalizes Agreement to Separate Donkin Coal and Mongolian Mi...
7/26/2012(Donkin)Provides Donkin Export Coking Coal Project Update
7/3/2012Completes US$3.35 Million Sale of the Granite Hill Quarry Pr...
6/28/2012(Donkin)to Separate into Two Public Companies focused on Donkin Coal...
1/17/2012Granite Hill Quarry Commences Production: Erdene Receives Mi...
7/27/2011(Nomin)Drill Results Confirm Continuity of Copper-Gold-Silver Sulfi...
6/30/2011(Donkin)Receives Independent Technical Report on Donkin Export Cokin...
6/1/2011(Zuun Mod Molybdenum)Receives Mining License for the Zuun Mod Molybdenum-Copper P...
3/4/2011(Zuun Mod Molybdenum)Reports Additional Results from Mongolian Copper Discovery: ...
11/28/2008(Donkin Coal Project)Provides Update on Donkin Coal Project
Corporate news of Erdene Resource Development Corporation
1/23/2014Altan Nar Trenching Intersects Multiple High Grade Gold and ...
10/18/2013Announces Private Placement Altan Nar Gold Project - Explora...
10/18/2013Announces Private Placement : Altan Nar Gold Project-Explora...
10/7/2013Commences Exploration Program at Altan Nar Gold Project
7/2/2013Provides Highlights of AGM and Project Update
6/27/2013Reports Encouraging Metallurgical Results for Altan Nar Gold...
4/11/2013Establishes Strategic Alliance in Mongolia
4/3/2013Provides Year-End Financial Results and Project Review
11/27/2012Drill Program Confirms Gold Mineralized Trend at Altan Nar: ...
11/9/2012and Morien Announce Completion of Plan of Arrangement and Co...
11/2/2012and APM Receive Final Court Approval for Plan of Arrangement...
10/26/2012and APM Shareholders Vote in Favor of Plan of Arrangement
10/9/2012Commences Drill Program on the Altan Nar Gold Project
10/2/2012Proposing Division into Two Public Companies
8/22/2012Provides Update on Mongolian Metals Projects
8/13/2012Morien Resources Corp. Selected as Proposed New Name and Joh...
5/30/2012Drilling Continues to Expand Altan Nar Gold Discovery
5/22/2012Announces Sale of its Land and Royalty Interest at the Grani...
5/17/2012Provides Project Updates and First Quarter Financial Results
4/26/2012(Donkin)Schedules Conference Call to Provide Update on Donkin Coal P...
3/29/2012Provides Project Updates and Reports Year End Financial Resu...
3/5/2012Announces Drilling Program for Altan Nar Gold-Silver Project
1/26/2012Confirms Continued Widespread Gold Mineralization at Altan N...
11/15/2011Provides Project Updates and Third Quarter Financial Results
11/10/2011Commences Drilling at Altan Nar Epithermal Gold Project Sout...
10/12/2011Drilling Confirms Significant Epithermal Gold Mineralization...
9/7/2011Announces Significant New Gold Discovery in Southwest Mongol...
8/15/2011Provides Project Updates and Second Quarter Financial Result...
7/6/2011(Nomin)Initial Drill Results Confirm Copper-Gold Sulfide Zone at Er...
6/21/20112010 Annual General Meeting-June 23, 2011
6/15/2011Provides Project Updates and First Quarter Financial Results
4/12/2011Provides Project Updates and Reports Year End Financial Resu...
2/17/2011Zuun Mod Results Continue to Enhance Potential of Copper and...
2/28/2009Concludes Reverse Takeover of Beta Minerals Inc.
9/15/2008Xstrata Coal Canada Increases Ownership in Erdene
5/29/2008Erdene Name Change Approved at Annual and Special Meeting
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TORONTO (ERD.TO)Other OTC (ERDGF)
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