VANCOUVER, British Columbia, Oct. 23, 2017 (GLOBE NEWSWIRE) — Aida Minerals Corp. (“Aida” or the “Company”) (CSE:AMC) (Frankfurt:2AD.F) is pleased to announce that James Hyland has been named Vice President of Corporate Development for Aida. James will be responsible for communications strategy and implementation of new business opportunities.
David Alexander states, “Jamie brings to Aida networking and interpersonal skills and we are very excited to have him as part of the Aida team. His business insight and diversified experience across many communication disciplines will be a great asset for developing a clear message and bringing shareholder value to the company.”
James joins Aida with more than 25 years of experience as a financial and marketing consultant, a corporate founder and manager of a number of early stage public and private Canadian businesses. His industry expertise includes technology, publishing, financial services, oil & gas, hospitality, mining, alternative energy and healthcare appliances. Mr. Hyland has an extensive network of contacts within the financial community including brokers, fund managers, industry analysts and media, throughout North America, the United Kingdom and continental Europe. Mr. Hyland has also worked with a major mining and resource publication based in Vancouver, BC.
Mr. Hyland earned a Bachelor of Commerce in Entrepreneurial Management from Royal Roads University of Victoria, BC. Canada.
The Company also announces that it intends to raise up to $1,200,000 by way of a non-brokered private placement of up to 6,000,000 units (each “Unit”) at a price of $0.20 per unit. Each unit consists of one (1) common share (“Common Share”) and one-half (1/2) of one transferable common share purchase warrant (“Warrant”), with each full warrant entitling the holder to acquire one additional Aida common share at an exercise price of $0.50 per share for a period of twelve (12) months from the closing date, subject to an acceleration clause. In the event that the Company’s common shares trade at a closing price greater than $1.00 per share for a period of 10 consecutive trading days at any time after the closing date, the Company may accelerate the expiry date of the Warrants by giving written notice to the holders thereof and in such case the Warrants will expire on the 30th day after the date hereafter referred to as the (“Forced Conversion Feature”) on which such notice is given by the Company.
The Private Placement was approved by all of the independent directors of the Company. Aida intends to use the proceeds for the Greenstream acquisition, further investment opportunities and general working capital purposes.
All securities issued in the financing will be subject to a statutory hold period expiring four months and one day after closing of the financing. Completion of the financing is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals, including approval of the Canadian Securities Exchange (the “CSE”). The Company may, in its sole discretion, pay a finder’s fee within CSE policy guidelines in connection with the Private Placement.
For further information, please contact:
David Alexander, CFO
ON BEHALF OF THE BOARD OF DIRECTORS
Statements in this news release may be viewed as forward-looking statements. Such statements involve risks and uncertainties that could cause actual results to differ materially from those projected. There are no assurances the company can fulfill such forward-looking statements and the company undertakes no obligation to update such statements. Such forward-looking statements are only predictions; actual events or results may differ materially as a result of risks facing the company, some of which are beyond the company’s control.