Alder Resources Ltd.
TSX VENTURE : ALR

December 03, 2009 15:44 ET

Alder Closes $1,000,000 Private Placement Financing

TORONTO, ONTARIO--(Marketwire - Dec. 3, 2009) - Alder Resources Ltd. (the "Company") (TSX VENTURE:ALR) is pleased to announce that the Company has completed its previously announced private placement financing of units ("Units") of the Company for gross proceeds of approximately $1,000,000 through the issuance of 6,666,666 Units at a price of $0.15 per Unit. Each Unit is comprised of one common share of the Company and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to acquire one common share of the Company at a price of $0.25 until November 25, 2011.

In connection with the financing, the Company has paid finders fees in the form of a cash commission totalling $80,000 and has issued 666,666 broker warrants. Each broker warrant entitles the holder to acquire one Unit at a price of $0.15 until November 25, 2011.

The common shares (and the common shares issuable upon the exercise of the Warrants) are subject to resale restrictions that expire on March 26, 2010.

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.

Contact Information

  • Alder Resources Ltd.
    Donald Mosher
    Director
    (604) 685-6465
    www.alderltd.ca