01:58:36 EDT Thu 18 Apr 2024
Enter Symbol
or Name
USA
CA



Aldrin Resource Corp (2)
Symbol ALN
Shares Issued 20,205,234
Close 2015-03-04 C$ 0.205
Market Cap C$ 4,142,073
Recent Sedar Documents

Aldrin arranges $150,000 loan from unnamed lenders

2015-03-05 16:48 ET - News Release

Mr. Johnathan More reports

ALDRIN ANNOUNCES DEBT FINANCING

Aldrin Resource Corp. has secured working capital debt financing of $150,000 from non-arm's-length parties. The proceeds will be expended on the recently acquired Key Lake property and for general working capital purposes. The loan will be for a term of one year and bears interest at the rate of 12 per cent per annum, calculated and compounded annually and paid quarterly. As an inducement to grant the loan, Aldrin will issue the lenders 122,448 common shares of Aldrin, which are equal to 20 per cent of the principal amount of the loan at a deemed price of 24.5 cents per share. The shares will be subject to a hold period expiring four months and one day after the date of issuance. The loan is subject to regulatory approval.

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