TORONTO--(BUSINESS WIRE)--
Aldridge Minerals Inc. (TSX-V: AGM) (“Aldridge” or the “Company”) today
announced that the Company has acquired title to or has right to access
91.1% of the Yenipazar project area. The State-led compulsory court
process continues in parallel with ongoing voluntary transactions. The
Company expects the land acquisition process to be completed in 2017,
subject to available funds.
Aldridge is also pleased to announce that it has retained Scotia Capital
Inc. (“Scotia Capital”), a leading full-service wholesale bank and
investment dealer, to act as its financial advisor. Scotia Capital will
assist Aldridge in evaluating financing and strategic options.
“The appointment of Scotia Capital adds to our experienced Board of
Directors and management team and allows us to review and assess a wide
range of options as we advance the Yenipazar land acquisition process
towards completion and the Yenipazar Project towards development,”
said Han Ilhan, Aldridge's President & CEO.
About Aldridge
Aldridge is a development-stage mining company focused on its wholly
owned and permitted Yenipazar polymetallic VMS Project (Gold, Silver,
Copper, Lead, Zinc) in Turkey. Aldridge completed the Yenipazar
Optimization Study and filed the related NI 43-101 compliant technical
report in May 2014, which updated the original May 2013 Feasibility
Study. The Company is currently advancing the Yenipazar Project on key
aspects including land acquisition and interim and project financing.
Caution Regarding Forward-Looking Information
This news release includes certain forward-looking statements within the
meaning of Canadian securities laws. Forward-looking statements involve
risks, uncertainties and other factors that could cause actual results,
performance, prospects and opportunities to differ materially from those
expressed in such forward-looking statements. When used in this press
release, words such as “proposed”, “may”, “would”, “could”, “will”,
“expect”, “anticipate”, “estimate”, “believe”, “intend”, “plan”, and
other similar expressions are intended to identify forward-looking
statements. Such risks, uncertainties and factors, include, but are not
limited to, the ability of the Company to fund the purchase of the
remaining land required to develop the Company’s Yenipazar Project, its
ability to complete the land acquisition in 2017, and its ability to
otherwise advance the development of the Project; the ability of the
Company to raise additional debt or equity financing on acceptable terms
or at all; economic performance; mineral prices; the future plans and
objectives of the Company; and the other factors discussed under the
heading “Risk Factors” in the Company’s Management’s Discussion and
Analysis for the year ended December 31, 2015 and in other continuous
disclosure filings made by the Company with Canadian securities
regulatory authorities and available at www.sedar.com.
Any number of important factors could cause actual results to differ
materially from these forward-looking statements as well as future
results.
Forward-looking information is based on a number of factors and
assumptions which have been used to develop such information but which
may prove to be incorrect, including, but not limited to, assumptions in
connection with the continuance of Aldridge and its subsidiaries as a
going concern, general economic, political and market conditions,
mineral prices, and the accuracy of mineral resource estimates. Although
Aldridge believes that the assumptions and factors used in making the
forward-looking statements are reasonable, undue reliance should not be
placed on these statements, which only apply as of the date of this news
release, and no assurance can be given that such events will occur in
the disclosed time frames or at all. Aldridge disclaims any intention or
obligation to update or revise any forward-looking statement, whether as
a result of new information, future events or otherwise unless required
by law.
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 news release.