Aldrin Resource Corp.
TSX VENTURE : ALN

Aldrin Resource Corp.

March 31, 2010 09:30 ET

Aldrin Closes $7 Million Non-Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 31, 2010) - Aldrin Resource Corp. ("Aldrin") (TSX VENTURE:ALN) is pleased to announce that it has closed its $7 million non-brokered private placement of 14,000,000 units at $0.50 per unit (the "Offering"). Each unit consists of one common share and one half share purchase warrant exercisable into one additional common share of Aldrin at the exercise price of $0.75 until September 29, 2011. The private placement shares, warrants and any shares issued on exercise of the warrants are subject to a hold period expiring on July 30, 2010. The Offering did not result in a change of control of Aldrin. Proceeds of the Offering will be used to complete drilling and exploration on Aldrin's properties in the Yukon Territory, for future acquisitions and working capital.

A number of agents assisted Aldrin in connection with the Offering and Aldrin has paid a cash commission of seven percent (7%) of the proceeds raised by the agents. Aldrin has received final TSX Venture Exchange approval for the Offering.

ON BEHALF OF THE BOARD OF DIRECTORS

Johnathan More, President and CEO

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

  • Aldrin Resource Corp.
    Johnathan More
    President and CEO
    604-687-7741
    604-662-3904 (FAX)