TSX: AAB last: chg: delayed 15-20 min View More

Aberdeen Acquires 13.7% Stake in Franc-Or Resources Corp.


Download this Press Release (PDF 16 KB)

AUGUST 13, 2008

Toronto, Ontario, AUGUST 13, 2008: ABERDEEN INTERNATIONAL INC. (“Aberdeen” or the “Company”) (Toronto Stock Exchange (“TSX”): AAB) is pleased to announce that it has acquired a 13.7% interest in Franc-Or Resources Corp. (“Franc-Or”)( FOR:TSX) As part of a 20,000,000 unit private placement, Aberdeen acquired 8,750,000 units with each unit consisting of one common share and one common share purchase warrant at a price of $0.10 per unit. The warrants are exercisable at a price of $0.12 per common share for a period of 36 months. Notwithstanding the noted term, if the closing price of the common shares of the Issuer trading on the Toronto Stock Exchange (“TSX”) is $0.18 or higher for 20 consecutive trading days, the Company may accelerate the expiry date of the warrants by giving notice to the warrant holder who will have 20 calendar days to exercise, failing which their warrants will automatically expire. 8,750,000 common shares represent approximately 13.7% of the issued and outstanding common shares of Franc-Or. In the event that the Warrants are fully exercised, the holdings of Aberdeen would total 17,500,000 common shares of Franc-Or or approximately 24.1% of the issued and outstanding common shares of the Issuer on a partially diluted basis.

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 highquality 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.

Aberdeen International Inc.

Please visit the Company’s web site at www.aberdeeninternational.ca or write us at smoore@aberdeeninternational.ca
For further information please contact

George Faught Stan Bharti
President and CEO Executive Chairman
Tel: (416) - 861 – 5887 Tel: (416) - 861-5876

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, valuations of investments, 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.