TORONTO, ONTARIO--(Marketwired - Nov. 24, 2014) -
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION TO THE UNITED STATES
Aberdeen International Inc. (TSX:AAB) ("Aberdeen" or the "Company") has closed its previously announced non-brokered private placement financing of 10,000,000 units of the Company (the "Units" at a price of $0.20 per Unit for gross proceeds of $2,000,000. Each Unit consist of one common share of the Company (a "Common Share") and one common share purchase warrant (a "Warrant") entitling the holder to acquire a common share at a price of $0.30 until November 24, 2019.
The Common Shares, Warrants and shares underlying the Warrants will be subject to a four month and one day statutory hold period. The Company has received conditional approval of the TSX to close the transaction and final approval will be obtained within the ordinary course upon submission of final documentation.
About Aberdeen International Inc:
Aberdeen is a publicly traded global investment and merchant banking company focused on small cap companies in the resource sector. Aberdeen will seek to acquire significant equity participation in pre-IPO and/or early stage public resource companies with undeveloped or undervalued high-quality resources. Aberdeen will focus on companies that: (i) are in need of managerial, technical and financial resources to realize their full potential; (ii) are undervalued in foreign capital markets; and/or (iii) operate in jurisdictions with low to moderate local political risk. Aberdeen will seek to provide value-added managerial and board advisory services to companies. Currently the Company has 97,349,422 Common Shares issued and outstanding.
For additional information, please visit our website at www.aberdeeninternational.ca and follow us on Facebook and Twitter: AberdeenAAB.
Cautionary Note
Except for statements of historical fact contained herein, the information in this press release constitutes "forward-looking information" within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as "plans", "proposes", "estimates", "intends", "expects", "believes", "may", "will" and include without limitation, statements regarding the ability to complete the private placement transaction, the anticipated timing with respect to Landmark transaction, the completion of the proposed transaction with Landmark, the completion of the proposed platinum project acquisition, the ability of the Company to generate additional value for shareholders as a result of such transactions, if completed at all, the ability of the Company to enter into a definitive agreement with respect to either transaction or conclude either transactions, past success as an indicator of future success; net asset value of the Company; the potential of investee companies and the appreciation of their share price; the Company's plan of business operations; and anticipated returns. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, competition, financing risks, acquisition risks, risks inherent in the mining industry, and regulatory risks. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.