By Devika Patel
Knoxville, Tenn., March 11 - Aldrin Resource Corp. said it plans a C$5 million private placement of units.
The company will sell 10 million units at C$0.50 apiece. Each unit consists of one common share and one half-share warrant, with each whole warrant exercisable at C$0.75 for 18 months.
Proceeds will be used to complete drilling and exploration on Aldrin's properties in the Yukon Territory, for future acquisitions and working capital.
Based in Vancouver, B.C., Aldrin is a resource exploration company.
| Issuer: | Aldrin Resource Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$5 million
|
| Units: | 10 million
|
| Price: | C$0.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.75
|
| Pricing date: | March 11
|
| Stock symbol: | TSX Venture: ALN
|
| Stock price: | C$0.58 at close March 10
|
| Market capitalization: | C$13.9 million
|
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