Aberdeen Converts Convertible Debenture Into Common Shares of Portex Minerals Inc.
TORONTO, ONTARIO -- (Marketwire) -- 02/04/13 -- ABERDEEN INTERNATIONAL INC. ("Aberdeen" or the "Company") (TSX: AAB) is pleased to announce that it has converted convertible debentures in the principal amount of $1,000,000 plus $62,465 of interest into 21,249,315 common shares of Portex Minerals Inc. ("Portex"). As a result of the conversion, based on 64,984,300 common shares of Portex outstanding, Aberdeen holds 32.7% of the issued and outstanding common shares of Portex. Aberdeen has acquired the Portex shares for investment purposes only and, subject to applicable laws, may trade Portex shares through market transactions, private placements, treasury issuances or otherwise as circumstances or market conditions warrant or arise.
Pursuant to the terms of the debentures, Aberdeen has nominated Geoff Stanley and Richard Bishop to join Portex's board of directors following Portex's upcoming annual general meeting on March 22, 2013.
To obtain a copy of the early warning report filed in connection with this transaction, please contact David Stein at (416) 861-5812.
About Portex Minerals Inc.:
Portex is a Toronto-based mineral development company focused on the acquisition and development of base and precious metals properties in Portugal and Spain. Portex's principal properties are the Lagoa Salgada lead-zinc project in Southern Portugal and the Toral lead-zinc project in North West Spain. Additional information can be found on Portex's website at www.portexminerals.com.
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 (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. The Corporation's intention will be to optimize the return on its investment over an 18 to 24 month investment time frame.
Please visit the Company's web site at www.aberdeeninternational.ca or write us at info@aberdeeninternational.ca.
Cautionary Notes
With respect to all statements herein relating to Portex, its business and its prospects, Aberdeen has relied solely upon the public disclosure of Portex.
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 respect to proposed transactions and investments, investment philosophy and liabilities and commitments. Generally, forward looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: financing not being available at desired prices; general business, economic, competitive, political and social uncertainties; general other risks of the mining industry and investment industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
THE TORONTO STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OF THIS RELEASE.
Contacts:
Aberdeen International Inc.
Mike McAllister
Manager, Investor Relations
+1 416-309-2134
info@aberdeeninternational.ca
Aberdeen International Inc.
Ryan Ptolemy
Chief Financial Officer
416-861-5882
info@aberdeeninternational.ca
www.aberdeeninternational.ca
