Alder to Do $1,000,000 Private Placements; Update of Exploration of Canadian Creek Yukon Property
October 15 2009 - 2:58PM
Marketwired
Alder Resources Ltd. ("Alder") (TSX VENTURE: ALR) has entered into
an Agency Agreement dated October 13, 2009 with Delano Capital
Corp. ("Delano") a licenced Limited Market Dealer, of Toronto,
Ontario, pursuant to which Delano has agreed to act as Alder's
agent to offer, on a best efforts basis, 6,666,667 Units
("Offering"). Each Unit will consist of one common share of Alder
and one Warrant entitling the holder to purchase an additional
share of Alder for the period of 24 months following the Closing.
The Units will be sold for $0.15 each and each Warrant will be
exercisable to purchase an additional share for $0.25.
There is no minimum set with respect to the Offering. On the
closing of the sale of the Units sold ("Closing") Delano will be
paid cash commissions equal to 8.0% of the gross proceeds from the
Offering raised by Delano. As additional compensation for its
services Alder will grant Delano options entitling it, for 24
months from the Closing, to purchase that number of Units as is
equal to 10% of the number of Units sold by Delano pursuant to the
Offering for $0.15 per Unit; provided that the Warrants included in
the Units purchased by the Agent will expire 24 months after the
Closing.
The Offering and the Agency Agreement is subject to the
completion and signing of final documentation and acceptance for
filing by the TSX Venture Exchange - upon which the common shares
of Alder are listed for trading.
Alder has now completed exploration work for the season on its
optioned Canadian Creek Mineral Property - located approximately
160 km south of Dawson City, Yukon Territory - and the crew and
equipment demobilized. Ten core drill holes were completed for a
total of 1,431 metres. The drill holes tested a number of soil
geochemical and IP geophysical anomalies broadly spaced over an
area of 4 km in length. The samples are now all in the lab and the
results will be released once they have been received and compiled.
Two soil sample lines were added late in the program at the
northeastern end of the grid where a new and open ended
gold-arsenic soil anomaly was outlined on two lines 200 m
apart.
Alder's total expenditures on the Canadian Creek Property are
estimated to have been approximately $1,000,000, subject to the
receipt of final invoices.
As has been disclosed in previous Alder Releases, Alder can earn
a 60% interest in the Canadian Creek Property - from the owner of
the property, Cariboo Rose Resources Ltd.
Alder has granted a Director an option to purchase up to 100,000
shares exercisable at $0.15 per share.
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.
Contacts: Alder Resources Ltd. Donald Mosher Director (604)
685-6465 www.alderresources.ca