Aldridge
Minerals Inc.
Aldridge
Minerals Inc. amends terms of non-brokered private placement
VANCOUVER - Aldridge Minerals Inc.
(TSX-V: AGM Frankfurt: A0CAPB) (the "Company") announces that it
has amended the terms of its non-brokered private placement units
("Units") originally announced on September 6, 2007. The Company
will now issue up to 1,200,000 Units at a price of $2.50 per Unit to raise
gross proceeds of $3,000,000.
Each Unit will consist
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 for a period of 12 months from closing. The Company expects
to close the private placement immediately upon receiving regulatory
approval.
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 may 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
15th Floor, 1040 West
Georgia Street
Vancouver, B.C. V6E 4H8
Canada
http://www.aldridge-minerals.com/
The Equicom Group
Martti Kangas
Investor Relations
Tel. +1 (416) 815-0700 x243
acurkovic@equicomgroup.com
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