Aldridge Retains Cutfield Freeman to Aid in Securing Project Financing for Yenipazar
TORONTO, Feb. 19, 2013 /CNW/ - Aldridge Minerals Inc. (TSX Venture: AGM) ("Aldridge" or the "Company") is pleased to announce that it has retained Cutfield Freeman & Co. Ltd. ("CF&Co"), a global specialist mining corporate finance firm, to act as its financial advisor. CF&Co will assist Aldridge in evaluating all of its financing and strategic options for its Yenipazar gold and polymetallic project, which is currently at the development stage. As part of its mandate, CF&Co will consider all financing alternatives including debt, equity, metal streaming and concentrate off-take-related financing that may be available to Aldridge.
"The appointment of CF&Co adds to our already experienced team and allows us to review and assess a wide range of options as we move towards developing the Yenipazar project," said Mario Caron, Aldridge's President & CEO. "We look forward to drawing upon CF&Co's significant experience in Turkey while we work to optimize the various elements that will form the project financing package."
Aldridge is a near development stage mining company focused on advancing its Yenipazar gold and polymetallic VMS deposit (Ag, Cu, Pb, Zn) in Turkey - a country that is committed to developing its natural resources and is rapidly emerging as an economic powerhouse. Aldridge is currently in the final stages of completing the Yenipazar feasibility study, which we expect to deliver in March 2013. The Yenipazar project is subject to an earn-in agreement with Alacer Gold Corp., wherein Aldridge can earn a 100% working interest subject to certain conditions, subject to a 6% net profit interest ("NPI", revenues less operational costs) until revenues of US$165 million are generated, and a 10% NPI from there on.
CF&Co is an independent corporate finance house with offices in London, Toronto and Hong Kong providing independent advice to companies in the mining and metals sectors. CF&Co advises on all aspects of corporate, project and offtake-related finance, mergers and acquisitions and joint ventures. CF&Co has acted on a wide variety of transactions for a range of mining companies, including transactions in Turkey.
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. Forward-looking statements in this news release, include, but are not limited to, economic performance and future plans and objectives of Aldridge. Any number of important factors could cause actual results to differ materially from these forward-looking statements as well as future results. 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 new release, and no assurance can be given that such events will occur in the disclosed timeframes 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.
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 release.
SOURCE Aldridge Minerals Inc.