Aldridge Minerals Inc. has completed its private placement announced in Stockwatch on July 20, 2005. The placement consisted of 500,000 units at a price of 70 cents per unit for gross proceeds of $350,000.
Each unit consists of one common share in the capital of Aldridge and one common share purchase warrant. Each warrant will be exercisable into an additional common share of Aldridge at a price of 85 cents for a period of two years.
Aldridge paid a finder's fee of 33,333 units. The securities issued under the private placement are subject to a four-month hold period expiring on Jan. 10, 2006.
Aldridge is active in the exploration and development of gold and base metal projects in Turkey.