Aintree Resources Inc. Completes Initial Public Offering
Suite 125A - 1030 Denman Street Vancouver, British Columbia V6G 2M6 Tel: 604-818-2617 Fax: 604 648-9013
News Release February 22, 2010
AINTREE RESOURCES INC. COMPLETES INITIAL PUBLIC OFFERING
Vancouver, BC: Aintree Resources Inc. (the "Company") is pleased to announce that it has successfully completed its initial public offering of 2,000,000 common shares (the "Shares") at a price of $0.15 per Share for gross proceeds of $300,000 (the "Offering") pursuant to its Prospectus dated February 1, 2010.
Canaccord Financial Ltd. ("Canaccord") acted as agent for the Offering and was paid an administrative fee and a cash commission of 10% of the gross proceeds of the Offering. Canaccord also received an agent's option to purchase up to 200,000 Shares in the capital of the Company at a price of $0.15 per Share, exercisable for a period of 24 months from the date the Company's Shares are listed and posted for trading on the TSX Venture Exchange (the "TSXV").
The Company also granted to Big Brothers of Greater Vancouver 32,500 charitable options (the "Charitable Options"). Each Charitable Option entitles the holder to purchase one Share in the capital of the Company at a price of $0.15 per Share for a period of five years from the date the Company's Shares are listed and posted for trading on the TSXV.
The Company has granted an aggregate of 287,500 stock options (the "Options") to its directors and officers pursuant to its Stock Option Plan. The Options are exercisable at a price of $0.15 per Share and expire on February 22, 2015.
It is expected that the Company's Shares will be listed for trading on the TSXV commencing February 22, 2010, under the trading symbol AIN.P.
About Aintree Resources Inc.
Aintree Resources Inc. is a capital pool company (CPC) within the meaning of the policies of the TSXV. Aintree Resources Inc. has not commenced operations and has no assets other than cash. Aintree Resources Inc. proposes to identify and evaluate business and assets with a view to completing a "Qualifying Transaction" under the TSXV CPC policies. The funds raised under the initial public offering will be used to pursue Aintree Resources Inc.'s Qualifying Transaction. The Directors and Officers of Aintree Resources Inc. are Walter Brenner (President, CEO & CFO), Michael England and Barry Underhill.
AINTREE RESOURCES INC.
"Walter Brenner"
Walter Brenner President, CEO and Director
Neither 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.