Aldridge Mineral Madencilik Ltd. Şti. (“Aldridge” or the “Company”) is incorporated in Turkey and is the wholly owned subsidiary of Virtus Mining Ltd. (“Virtus”). Aldridge is the license holder of the Yenipazar Polymetallic Mine Project (the “Project” or “Yenipazar Project”) located in Yozgat province, Boğazlıyan district, within the administrative boundaries of Yenipazar Municipality.
Virtus is a company established in the British Virgin Islands and is a tax resident in the Netherlands. Its majority shareholder is Metallurgium Investment Limited and its minority shareholder is Trafigura Ventures V BV. Virtus was organized for the purpose of acquiring all the shares of Aldridge Minerals Inc. (“Aldridge Canada”), a Canadian listed company (formerly traded on the TSX- Toronto Stock Exchange under the symbol AGM), and thereafter developing and operating the mineral properties owned by Aldridge in Turkey. The acquisition of Aldridge Canada was completed in December 2018. Subsequently on 23 July 2019, the100% of the shares of Aldridge were transferred from Aldridge Canada to Virtus. In addition, the rights and obligations of all other assets, liabilities and employees of Aldridge were transferred to Virtus effective 31 July 2019.
Aldridge is currently focused on the development of the Yenipazar Project that is on the polymetallic volcanogenic massive sulphide (“VMS”) body that hosts a gold-silver-copper-lead-zinc mineral deposit.