Ardonblue Terminates Financing, Option on El Tacon Property, Mexico
Ardonblue Ventures Inc.
NEWS RELEASE
Ardonblue Terminates Financing, Option on El Tacon Property, Mexico
Vancouver, B.C. – September 14, 2015 – Ardonblue Ventures Inc. (the “Company”) (TSX-V: ARB) reports that its wholly-owned Mexican subsidiary, Minera La Antigua, S.A. de C.V. (“Minera LA”), has terminated its option on the “El Tacon” and “El Tacon Dos” mining concessions announced on June 23, 2015. The Company has also terminated its planned non-brokered private placement announced on July 20, 2015 because current market conditions did not permit the Company to complete that financing within the time permitted by the TSX Venture Exchange (the “TSXV”), also noted in its July 20, 2015 news release. The proceeds from the planned financing were to be used to make the initial option payment in respect of the El Tacon property and to fund the Phase I work program on that property. Without having such funds available to it, the Company is not in a position to pursue the El Tacon project.
As announced on July 20, 2015, the Company received notice from the TSXV to transfer to NEX if the Company did not take steps to satisfy the listing maintenance requirements for a Tier 2 company, including completion of the planned financing, not later than September 15, 2015. The Company has not been able to meet that deadline and, accordingly, will be following up with the TSXV regarding transfer to NEX.
On behalf of the Board of Directors
“Clive Brookes”
Clive Brookes CEO, President and Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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