VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 24, 2014) - Aldrin Resource Corp. ("Aldrin") (TSX VENTURE:ALN) announces a non-brokered private placement of units at $0.08 per unit for total gross proceeds of $500,000 (the "Financing"). Each unit will be comprised of one common share and one share purchase warrant. Each full warrant is exercisable into one additional Aldrin common share at $0.12 per share for a period of 24 months from closing. Only one subscriber is participating in the Financing.
Proceeds of the Financing will be used to expand Aldrin's 2014 drilling program on its Triple M Property. Aldrin will pay a cash commission of eight percent (8%) of the proceeds raised and warrants equal to eight percent (8%) of the number of units which are placed by agents who assist with the Financing.
All securities issued on the proposed private placement will be subject to a four month hold period. The Financing is being filed on an expedited basis and is subject to TSX Venture Exchange approval. The private placement will not result in a change of control of Aldrin.
ON BEHALF OF THE BOARD
Johnathan More, CEO and Director
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.