Aldridge Announces Private Placement
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VANCOUVER, BRITISH COLUMBIA, Dec 11 (MARKET WIRE) -- Dr. Hikmet Akin, President of Aldridge Minerals Inc. (TSX VENTURE: AGM)(FRANKFURT: A0CAPB) ("Aldridge" or the "Company") is pleased to announce that the Company has arranged a non-brokered private placement of up to CAD $5,000,000 by the issuance of up to 5,000,000 units ("Units") at a price of $1.00 per Unit. Each Unit will consist of one common share and one share purchase warrant entitling the holder to acquire one additional common share at a price of $1.50 for a period of 24 months from closing. The warrants will also be subject to an accelerated expiry date if the Company's stock trades at $2.50 or greater for a period of 30 days, in which case the warrant holder will have a maximum of 30 days thereafter to exercise the warrants. The Company will pay a finder's fee of up to 7% in cash and 3.5% in brokers' warrants exercisable for 24 months at a price of $1.50 per warrant or in accordance with Exchange policies. The private placement and payment of the finder's fee are subject to the approval of the TSX Venture Exchange. About Aldridge Minerals Aldridge Minerals Inc. is mainly focused on mineral opportunities in Turkey where the Company is conducting an ambitious exploration and development program at its flagship Yenipazar polymetallic VMS project. Aldridge has also identified several other prospective opportunities in Turkey and has amassed a large property position where a systematic exploration program is underway. On behalf of the Board of Directors DR. HIKMET AKIN, President and Director Forward-Looking Statements: The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections. 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. Contacts: Aldridge Minerals Inc. Dr. Hikmet Akin President and Director 1 604 688 8932 Website: www.aldridgeminerals.com Copyright 2009, Market Wire, All rights reserved. -0-
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