Aberdeen Exercises Its Option to Acquire 1.0% NSR Royalty on the Sal de los Angeles Lithium Project in Argentina
TORONTO, ONTARIO--(Marketwired - Aug 10, 2017) - Aberdeen International Inc. ("Aberdeen" or the "Company") (TSX:AAB) has exercised its pre-existing right and acquired a 1.0% net smelter returns royalty in respect of the Sal de los Angeles lithium project in Argentina. In consideration for this royalty, Aberdeen has paid Routemaster Capital CAD$1,000,000 in cash and CAD$1,000,000 through the issue of 7,140,000 Aberdeen common shares. At a deemed price of $0.14 per common share, the 7,140,000 Aberdeen common shares have an aggregate value of $1,000,000.
The issue of Aberdeen common shares on the purchase of the royalty is subject to approval of the Toronto Stock Exchange. The shares have a statutory, four-month hold period.
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, follow us on Facebook, Twitter and Linkedin.
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 respect to the future financial or operating performance of the Company, Aberdeen's possible future trading and intentions, valuations of investments (including the royalty), 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 statements 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; and other general risks of the mining and investment industries. 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 TSX HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OF THIS RELEASE
Contact
Stan Bharti
Interim President and Chief Executive Officer
Aberdeen International Inc.
65 Queen Street West, Suite 800, Toronto, Canada M5H 2M5
stan@forbesmanhattan.com
+1 416-861-2267
