SOURCE: Aida Minerals Corp.

September 29, 2017 21:07 ET

Aida Minerals Corp.: CFO Appointment & Debt Restructure

VANCOUVER BC--(Marketwired - September 29, 2017) - Aida Minerals Corp. ("Aida") (CSE: AMC)(CSE: AMC.CN)(CNSX: AMC) is pleased to announce effective October 2, 2017 the appointment of David Alexander CPA CA and the restructuring of its debt obligations.

CFO Appointment

Mr. Alexander's past achievements include his role as the CFO of Arakis Energy Corporation, an international oil and gas development company, where he managed the company's growth from start-up to over a billion dollars in assets, leading to a listing on the NASDAQ market. Arakis was subsequently sold to Talisman Energy. David was also CFO of Laminco Resources Ltd. (name changed to Zaruma Resources Ltd.)., a Vancouver based copper/gold exploration company with properties located near Hermosillo, Mexico. While CFO of Laminco, Mr. Alexander assisted in the raising of over $20 million.

Debt Restructure

The Company has agreed with GCORP Capital Inc. ("GCORP") a company with common principals and shareholders, to assign its option agreements to earn an interest in the Carbon Neutral Power Partners waste to energy technologies and the Shandong province Power Plant and Fulcrum TiPs™ Technology to a subsidiary of GCORP in consideration for assigning the Company's debts along with the option agreements and issuance of 10,000,000 shares of the subsidiary. Aida will distribute the shares of the subsidiary pro rata to its shareholders of record as of September 22, 2017.

The status of the Company's option to acquire the Tay LP Property in the Yukon is unchanged.

The restructure will enable the Company to proceed unencumbered by debt and to focus on current and future opportunities.

ON BEHALF OF THE BOARD

"Donald Gordon"

Director, CFO

Statements in this news release may be viewed as forward-looking statements. Such statements involve risks and uncertainties that could cause actual results to differ materially from those projected. There are no assurances the company can fulfill such forward-looking statements and the company undertakes no obligation to update such statements. Such forward-looking statements are only predictions; actual events or results may differ materially as a result of risks facing the company, some of which are beyond the company's control.

Contact Information