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Aldrin Resource Corp Announces $1 Million Financing and Purchase of the Virgin Uranium Property


Tuesday, 8 Oct 2013 09:30am EDT 

Aldrin Resource Corp announced a non-brokered private placement consisting of up to 10,000,000 units at a price of $0.10 per unit for gross proceeds of $1 million. Each unit will be comprised of one common share and one warrant. Each whole warrant will entitle the holder to purchase an additional common share of Aldrin at $0.20 for one year from the date of closing. Aldrin will pay a cash commission of 8% of proceeds raised and broker's warrants equal to 8%of the number of units placed by each agent. The Company also announced an agreement to purchase 100% interest in the Virgin Uranium Property, a high-priority exploration property covering 49,275 hectares on the south-central margin of the Athabasca Basin. The Virgin Uranium Property comprises 3 separate contiguous claims blocks within and proximal to the southern margin of the Athabasca Basin, located between 6 and 30 kms from Cameco's Centennial deposit. The Virgin Uranium Property claim block located within the Athabasca Basin is adjacent to Cameco's Centennial deposit property and the other claims blocks are located proximal to the Virgin River shear zone. Proceeds of the Financing will be used towards the Triple M Property exploration program and for general working capital. The Financing is subject to TSX Venture Exchange Approval. 

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24 Jul 2014