Aberdeen International Inc.
TSX VENTURE : AAB

Aberdeen International Inc.

September 21, 2005 16:05 ET

Aberdeen Closes Private Placement

TORONTO, ONTARIO--(CCNMatthews - Sept. 21, 2005) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH US NEWSWIRE SERVICES

Aberdeen International Inc. (TSX VENTURE:AAB) has closed the first tranche of its previously announced private placement through the issuance of 4,875,000 Units at a price of $0.80 per Unit for gross proceeds of $3,900,000.00 Each Unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder thereof to purchase a common share at $1.00 until September 21, 2007. Each of the common shares and warrants are subject to a hold period that will expire on January 22, 2006. The proceeds of the Offering will be used to fund exploration and development of the Company's assets, and for general corporate purposes. In addition, the Company has granted options to purchase 800,000 common shares of the Company at an exercise price of $0.85 to directors, officer and consultants valid for a period of five years, subject to regulatory approval.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, (the "U.S. Securities Act") or any state securities laws an may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registrations is available.

Aberdeen International Inc. is a Canadian based company listed on the TSX Venture Exchange under the symbol AAB.

THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Contact Information

  • Aberdeen International Inc.
    Tony Wonnacott
    President
    (416) 861-5879