TORONTO, Nov. 12, 2018 /CNW/ - Virtus Mining Ltd.
("Virtus") announces that it has filed an early warning
report with respect to the acquisition on November 9, 2018 of 62,278,053 common shares
("Common Shares") in the capital of Aldridge Minerals Inc.
(TSX-V: AGM) ("Aldridge"), representing approximately 43.6%
of the issued and outstanding Common Shares.
Virtus acquired ownership of the shares in consideration for
shares of Virtus at a price of C$0.10
per share, for total consideration of C$6,227,805.30, pursuant to private purchase
agreements with Mr. Ahmet Taçyildiz.
As more particularly described in the press release of Mr.
Taçyildiz dated September 19, 2018,
Virtus acquired the shares in connection with the proposed plan of
arrangement (the "Arrangement") announced on September 18, 2018 involving Aldridge and Virtus,
whereby Virtus would acquire all the Common Shares not owned by it
for a price of C$0.10 per share.
Please see the press release of Aldridge dated September 18, 2018 for more information regarding
the Arrangement.
Virtus did not hold any Common Shares prior to the acquisition
and Virtus, together with its affiliates, now owns or controls
62,278,053 Common Shares, representing 43.6% of the issued and
outstanding Common Shares.
This news release is issued under the early warning provisions
of applicable Canadian securities legislation. A copy of the early
warning report filed by Virtus with applicable securities
commissions in connection with this acquisition will be available
for viewing under Aldridge's profile on SEDAR at www.sedar.com.
Aldridge's head office is located at 10 King Street East, Suite
300, Toronto, Ontario, Canada M5C
1C3.
SOURCE Aldridge Minerals Inc.