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Aldrin Resource Corp announces C$2 million brokered private placement


Monday, 2 Dec 2013 09:15am EST 

Aldrin Resource Corp:Says that it has entered into an engagement letter with Industrial Alliance Securities Inc. pursuant to which IAS will act as agent, on a commercially reasonable best efforts basis.Says in connection with the offering of up to 18,181,828 units at C$0.11 per unit for gross proceeds of up to C$2,000,000.Says each unit will be comprised of one flow-through common share and one half of a common share purchase warrant.Says each full warrant is exercisable into one additional non flow-through Aldrin common share at C$0.16 per share for a period of 18 months from closing.Says proceeds of the Offering will be used to complete drilling and exploration on Aldrin's Triple M uranium exploration property in the Athabasca Basin.Says IAS will receive a cash commission of eight percent of the proceeds which it raises and broker's warrants equal to eight percent of the number of units which it places.Says the broker's warrants will be exercisable for a period of 18 months at a price of C$0.11 per share. 

Company Quote

0.16
0.02 +12.50%
23 Apr 2015