$2 Million Brokered Private Placement Announced by Aldrin Resource

Aldrin Resource Corp (TSXV:ALN) signed an engagement letter with Industrial Alliance Securities Inc., whereby IAS will act as agent, on a commercially reasonable best efforts basis, in connection with the offering of up to 18,181,828 units at $0.11 per unit for gross proceeds of up to $2,000,000.

As quoted in the press release:

Each unit will be comprised of one flow-through common share and one half of a common share purchase warrant. Each full warrant is exercisable into one additional non flow-through Aldrin common share at $0.16 per share for a period of 18 months from closing.

IAS will receive a cash commission of eight percent (8%) of the proceeds which it raises and broker’s warrants equal to eight percent (8%) of the number of units which it places. The broker’s warrants will be exercisable for a period of 18 months at a price of $0.11 per share.

Click here to read the Aldrin Resource Corp (TSXV:ALN) press release
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