SOURCE: Aida Minerals Corp.

July 28, 2017 16:11 ET

Aida Minerals Corp.: Financing Clean Energy Initiatives and Corporate Update

VANCOUVER, BC--(Marketwired - July 28, 2017) - Aida Minerals Corp. ("Aida") (CSE: AMC) (CSE: AMC.CN) (CNSX: AMC) is pleased to announce an update on its financing and development initiatives on clean energy. Aida's clean energy projects focus on the application of world leading technologies transforming waste and coal to produce environmentally clean energy sources.

Convertible Preferred Share Offering

Aida is pleased to announce an offering of 1,000,000 units at $1.00 per unit and each unit consisting of one Preferred Share and one Common Share purchase warrant. Each two warrants are exercisable into one common share at an exercise price of $2.00 per share for a term of two years from date of issuance. Dividend on the preferred shares is 15% per annum payable annually after the first anniversary from issuance, and the dividends may be converted at the same conversion rate of the preferred shares. Use of proceeds includes purchase of a redeemable/convertible debenture of Trilennium Solutions Ltd. ("Trilennium") with a face value of $1,000,000 yielding 25% interest and secured by real estate assets pursuant to a General Security Agreement provided by Light Energy Dynamics Ltd. a private real estate development company and Trilennium investee. Trilennium is a private company consolidator of software and service suppliers to the Social Purpose sector utilizing its unique methodology branded CMR™ -- Competency -- Market -- Relationships.

Carbon Neutral Power Partners

Aida has entered into a Letter of Intent to raise funds and invest in Carbon Neutral Power Partners (CNPP); a Canadian based renewable energy company committed to Waste to Energy technologies utilizing its patented and robust gasification package. The business is operated by industry leaders headed by Victoria based president Bryan Imber, Ph.D. Past CNPP plant deployments are in Kilkenny Ireland and in three cities in British Columbia.

CNPP has established property and planning permission approvals for the installation of the Corby U.K. Waste to Energy facility, the first of 6 planned projects in the UK. The Corby project will deliver up to 10 MW exportable power from the processing of 350 tonnes a day of Refuse Derived Fuel. The technology consists of a simple updraft gasification system followed by a steam turbine in a closed loop steam system.

Aida may earn up to 25% of CNPP on concluding investment in CNPP by combination of preferred shares and debt totaling £60,000,000 (approximately CDN$98,400,000). Financing is proposed in stages with senior debt to be financed through power purchase agreements. Revenue is planned to commence from the first plant following 12 months of construction. Proposals to finance from institutions for the initial phase financing of £20,000,000 (approximately CDN$32,800,000) are being assessed, and are subject to Aida being successful in satisfying the project funding conditions for credit guarantees and/or having preliminary funding in place.

Further announcements will be made on progress towards meeting the pre-closing conditions.

Shandong province Power Plant and Fulcrum TiPs™ Technology

Aida has acquired from the Shandong Sino Canadian Steam Power Corporation (Shandong) the right to 5% of the first clean-coal thermal power generating plant in China, when completed. In consideration Aida had advanced $74,538 to Shandong which has been applied to expenses related to securing the project financing, Aida is engaged in raising additional funds as needed to achieve closing. The plant, using the latest thermal coal burner equipment, paired with Fulcrum Environmental Solutions Inc. TiPs™ clean coal technology. The plant is located in a newly constructed industrial zone which is dependent on the plants for thermal steam power.

Senior debt is proposed to be secured with power purchase agreements. Included among the power purchaser group is the Shandong Jinmei Mingshengda fertilizer production company which is a subsidiary of the Shanxi Jinmei Group, one of the top 65 largest companies in China. Closing the project funding is subject to Aida being successful in satisfying certain credit guarantees and/or having preliminary funding in place.

Further announcements will be made on progress towards meeting the pre-closing conditions.

Change in Board of Directors

Brian Peterson has resigned from the board due to other commitments and the Board wishes to express its gratitude for Brian's diligent service over the years.

Tay LP Property

The Tay LP Property in the Yukon consists of 413 claims covering a 20 km-long by four km-wide belt of gold prospects (7,880 hectares) and Aida has been provided with three quotes for a proposed drilling program. The Class Three Quartz Mining Land Use Permit, issued by the Yukon Government, which permits drilling and other activities on the property has been approved for a further five years, with a new expiry date of September 24, 2022.

Further announcements will be made on progress towards funding and commencing an advanced exploration program.


"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.

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