Business
Aberdeen International Inc. Announces Private Placement Financing
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About this update from Aberdeen International Inc.
[{"type":"text","content":" 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 TORONTO, March 05, 2019 (GLOBE NEWSWIRE) -- ABERDEEN INTERNATIONAL INC. (“Aberdeen” or the “Company”) (TSX: AAB) announces it intends to complete a non-brokered private placement financing of 10,000,000 units of the Company (the “Units”) at a price of $0.10 per Unit for maximum gross proceeds of $1,000,000 (the “Offering”). Each Unit shall consist of one common share of the Company (each a “Common Share”) and one common share purchase warrant (each a “Warrant”) entitling the holder to acquire a Common Share at a price of $0.10 for a period of two years from the date of issuance. The Company intends to use the net proceeds of the Offering for working capital and general corporate purposes. Although the Company expects to generate additional liquidity from its portfolio in the coming months, the Company believes that it is prudent to raise a small amount of additional working capital so that it may execute on time sensitive investment opportunities in the short-term. The Common Shares, Warrants and common shares underlying the Warrants will be subject to a four month and one day statutory hold period. Closing of the Offering remains subject to receipt of all regulatory approvals, including the approval of the Toronto Stock Exchange. Closing of the Offering is anticipated to occur on or before March 22, 2019. In connection with the Offering, Aberdeen may pay finder’s fees to eligible finders in accordance with the rules and policies of the Toronto Stock Exchange. ABOUT ABERDEEN INTERNATIONAL INC. Aberdeen International is a global resource investment company and merchant bank focused on small capitalization companies in the mining and metals sector. For additional information, please visit our website at www.aberdeeninternational.ca. For further information, please contact: Ryan PtolemyChief Financial OfficerAberdeen International [email protected]+1 416-861-5882 Cautionary Notes This press release contains \"forward looking information\" within the meaning of applicable Canadian securities legislation. Forward looking information includes, but is not limited to, statements with...