Key Developments: Erdene Resource Development Corp (ERD.TO)

ERD.TO on Toronto Stock Exchange

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11 Jul 2014
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Latest Key Developments (Source: Significant Developments)

Erdene closes private placement
Tuesday, 13 May 2014 11:47am EDT 

Erdene Resource Development Corp:Closes its non-brokered private placement financing with the issuance of 4,284,500 units priced at $0.16 per Unit for gross proceeds of $685,520.Each Unit consists of one common share 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 $0.24 for a 24 month period from the closing date.Net proceeds to be used for exploration of the company's metal projects in Mongolia, including drilling at the company's 100pct owned Altan Nar gold-polymetallic project.  Full Article

Erdene Resource Development Corp announces private placement
Monday, 21 Apr 2014 09:29am EDT 

Erdene Resource Development Corp:Intends to issue, by way of non-brokered private placement, up to 4,062,500 units at price of $0.16 per unit for gross proceeds of up to $650,000.Net proceeds will be used for exploration of Company's metal projects in Mongolia, including drilling at the Company's 100 pct owned Altan Nar gold-polymetallic project, to commence in late April.Private Placement is expected to close on or before May 2.Finder's fees may be payable on portion of financing.  Full Article

Erdene Resource Development Corp closes private placement
Monday, 21 Apr 2014 09:18am EDT 

Erdene Resource Development Corp:Closes non-brokered private placement financing with the issuance of 2,000,000 shares to Teck Resources Limited at price of $0.175 per share for gross proceeds of $350,000.All securities issued pursuant to Private Placement are subject to four month hold period.No commissions or finder's fees will be paid in connection with private placement.  Full Article

Teck Resources Ltd announces subscription to Erdene Resource Development Corp placement
Monday, 21 Apr 2014 09:15am EDT 

Teck Resources Ltd:Says it has subscribed for and acquired an additional 2,000,000 common shares of Erdene Resource Development Corp, at a cost of $0.175 per common share, in a private placement conducted by Erdene.Following the subscription, Teck holds 9,142,857 common shares and 1,071,429 share-purchase warrants of Erdene.  Full Article

Erdene Resource Development announces private placement
Tuesday, 15 Apr 2014 08:42am EDT 

Erdene Resource Development Corp:Intends to issue 2,000,000 shares at a price of C$0.175 per share for gross proceeds of C$350,000.Net proceeds will be used for exploration of Teck-Alliance projects in Mongolia.Expected to close on or before April 18.  Full Article

Teck Resources Ltd Announces Subscription To Erdene Resource Development Corp Placement
Thursday, 7 Nov 2013 06:15pm EST 

Teck Resources Ltd announced the closing of a CAD150,000 private placement in Erdene Resource Development Corp. (Erdene). Teck subscribed for 2,142,857 units of Erdene (the Units) at a cost of $0.07 per Unit, as part of a broader private placement of 9,797,500 Units conducted by Erdene. Each Unit comprises one common share and one-half of one share-purchase warrant exercisable at $0.10 within 24 months of closing of the placement. The shares, and shares that would be issued on exercise of the warrants, represent 11.8% of Erdene's issued common shares, calculated on a partially diluted basis assuming the exercise of the warrants held by Teck only. Teck holds 7,142,857 common shares of Erdene following the private placement.  Full Article

Erdene Resource Development Corp Closes Oversubscribed Private Placement
Thursday, 7 Nov 2013 04:01pm EST 

Erdene Resource Development Corp. announced that it has closed its non-brokered private placement financing with the issuance of 9,797,500 units (the "Units") priced at $0.07 per Unit for gross proceeds of $685,000. The $500,000 private placement previously announced on October 18th, 2013 was oversubscribed and was increased to the maximum to satisfy strong investor demand. 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 $0.10 for a 24-month period. Net proceeds of the private placement will be used to advance the Company's projects in Mongolia and for general working capital.  Full Article

Erdene Resource Development Corp Announces Private Placement
Friday, 18 Oct 2013 01:45pm EDT 

Erdene Resource Development Corp. (Erdene or Company), announced that it intends to issue, by way of a non-brokered private placement, up to 7,140,000 units at a price of $0.07 per unit for gross proceeds of up to $500,000 ("Private Placement"). Each unit will consist 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 $0.10 for a 24-month period. Net proceeds of the Private Placement will be used for exploration of the Company's projects in Mongolia and for working capital. The Company announced on October 7th, 2013 (click here for news release) the commencement of a trenching program at the Altan Nar gold-polymetallic project to further define near-surface mineralization and to prioritize new areas for the next phase of resource drilling over the 5.5 kilometre mineralized trend. In addition, proceeds will be directed to the Khuvyn Khar copper project, Altan Arrow gold-silver project, and general exploration & evaluation activities.  Full Article

Erdene Resource Development Corp Establishes Strategic Alliance With Teck Resources Limited
Thursday, 11 Apr 2013 08:46am EDT 

Erdene Resource Development Corp announced that it has entered into a strategic alliance with Teck Resources Limited. The Alliance was formed by the signing of option and private placement agreements to fund and explore the Company's mineral tenements in the Trans Altay region of southwest Mongolia. Initially, the program will focus on the Company's Khuvyn Khar copper porphyry prospect as well as exploration of select targets across the Trans Altay region. Excluded from the Alliance are the Company's Altan Nar gold project and Zuun Mod molybdenum-copper deposit. Under the terms of the Agreement, Teck will subscribe for up to $3 million of Erdene shares by way of a non-brokered private placement. The initial tranche will be for five million shares priced at $0.20 per share for aggregate proceeds of $1 million. Subject to meeting all conditions precedent, including receipt of approval from the Toronto Stock Exchange, the Initial Tranche is expected to close before April 30, 2013. Erdene will commit 85% of the proceeds from each tranche of the Teck private placement to exploration work to be directed by a technical committee, with the remaining 15% to be used for general purposes.  Full Article

Erdene Resource Development Corp Announces Wind-Up of the Mongolian Coal Alliance and Updates Strategic Objectives
Wednesday, 10 Apr 2013 08:03pm EDT 

Resource Development Corp announced that the Xstrata Coal Mongolia Alliance Agreement has been discontinued and provided an update on the Company's strategic objectives. Pursuant to the terms of the Mongolia Alliance Agreement ("Agreement") entered into on February 13, 2006, between Xstrata Coal Canada Limited and Erdene, the parties have mutually agreed to discontinue the Agreement. Over the past seven years, Erdene has conducted coal-focused, regional scale, geological mapping programs across Mongolia, with the last four years focussed on southern Mongolia. Collectively, an area of over ten million hectares was covered by Erdene's exploration team within basins that are considered prospective for high quality thermal and metallurgical grade coal. Erdene's comprehensive review of coal opportunities in Mongolia has included over 250 site evaluations and the drill testing of multiple targets. In addition, Erdene conducted comprehensive due diligence on numerous coal deposits and prospective licenses. With the Company's corporate restructuring complete, management is now focused on advancing the Company's core projects and business interests in Mongolia. As a result of the reduced availability of equity, management has been reviewing alternative financing opportunities to fund the advancement of Erdene's Mongolia projects. These opportunities include forms of partnerships at the corporate and project level. Over the past six months,  Full Article

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