Erdene Announces Private Placement
15 Abril 2014 - 7:41AM
Marketwired
Erdene Announces Private Placement
HALIFAX, NOVA SCOTIA--(Marketwired - Apr 15, 2014) - Erdene
Resource Development Corp. (TSX:ERD) ("Erdene" or "Company"), is
pleased to announce it intends to issue, by way of a non-brokered
private placement, 2,000,000 shares to Teck Resources Limited
("Teck") at a price of $0.175 per share for gross proceeds of
$350,000 ("Private Placement"). This fulfils Teck's equity
investment obligation pursuant to the Strategic Alliance between
Erdene and Teck announced by Erdene on April 11th, 2013. Net
proceeds of the Private Placement will be used for exploration of
the Company's Teck-Alliance projects in Mongolia, including the Khuvyn Khar
copper porphyry project where additional geophysical and geologic
mapping programs will be completed during the second quarter.
The Private Placement is expected to close on or before April
18th, 2014, and is subject to certain conditions, including, but
not limited to, the receipt of all necessary approvals including
the approval and acceptance by the Toronto Stock Exchange. All
securities to be issued pursuant to the Private Placement will be
subject to a four month hold period from the closing date.
About Erdene
Erdene Resource Development Corp. is a Canada-based resource
company focused on the acquisition, exploration, and development of
base and precious metals in underexplored and highly prospective
Mongolia. For further information on the Company, please visit
www.erdene.com. Erdene has 68,641,503 issued and outstanding common
shares and, a fully diluted position of 80,080,692 common
shares.
Forward-Looking Statements
Certain information regarding Erdene contained herein may
constitute forward-looking statements within the meaning of
applicable securities laws. Forward-looking statements may include
estimates, plans, expectations, opinions, forecasts, projections,
guidance or other statements that are not statements of fact.
Although Erdene believes that the expectations reflected in such
forward-looking statements are reasonable, it can give no assurance
that such expectations will prove to have been correct. Erdene
cautions that actual performance will be affected by a number of
factors, most of which are beyond its control, and that future
events and results may vary substantially from what Erdene
currently foresees. Factors that could cause actual results to
differ materially from those in forward-looking statements include
market prices, exploitation and exploration results, continued
availability of capital and financing and general economic, market
or business conditions. The forward-looking statements are
expressly qualified in their entirety by this cautionary statement.
The information contained herein is stated as of the current date
and is subject to change after that date. The Company does not
assume the obligation to revise or update these forward-looking
statements, except as may be required under applicable securities
laws.
NO REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE CONTENTS
OF THIS RELEASE
Erdene Resource Development Corp.Peter C. Akerley, President and
CEOKen W. MacDonald, Vice President Business Strategy and CFO(902)
423-6419info@erdene.comwww.erdene.comTwitter:
https://twitter.com/ErdeneRes
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