TORONTO, ONTARIO--(Marketwired - Sept. 16, 2015) - ABERDEEN INTERNATIONAL INC. ("Aberdeen", or the "Company") (TSX:AAB) has released its financial results for the second quarter of 2016, ended July 31, 2015. For more information please see the Company's Condensed Interim Financial Statements and Management's Discussion and Analysis ("MD&A") posted on SEDAR at www.sedar.com.

As at July 31, 2015, Aberdeen's Shareholders' Equity (or Net Asset Value, "NAV") was $27.6 million, or $0.29 per share. Aberdeen's shareholders' equity decreased by $8.7 million from $36.3 million at the end of Q1 2016. The decrease in shareholders' equity was due to net investment losses of $8.2M resulting from a 37% decline in the share price of Tahoe Resources Inc. during the quarter along with additional adjustments to certain private investment holdings resulting in the write downs as the Company reached better certainty on the closing of the Landmark transaction and by operating expense of $0.7M offset dividend and advisory service fee revenue of $0.2 million. On a year-over-year basis, Aberdeen's shareholders' equity decreased by $6.7 million. Note that the reference to shareholders' equity is similar to previous references to Net Asset Value or "NAV" by Aberdeen.

For the three months ended July 31, 2015, Aberdeen reported a net loss of $(8.6) million or $(0.09) per basic share on total revenue of $(7.9) million. Revenue was comprised of $(8.1) million from net investment losses and $0.2 million from dividends and advisory service fees. For the three months ending July 31, 2014, Aberdeen reported a net loss of $(12.2) million or $(0.14) per share on total revenue of $(5.9) million ($(6) million from net investment losses and $0.1 million from interest income).

For the six months ended July 31, 2015, Aberdeen reported a net loss of $(8.1) million or $(0.08) per basic share on total revenue of $(6.3) million. Revenue was comprised of $(6.8) million from net investment losses and $0.5 million from dividends and advisory service fees. For the six months ending July 31, 2014, Aberdeen reported a net loss of $(13.4) million or $(0.15) per share on total revenue of $(6.3) million ($(6.4) million from net investment losses and $0.2 million from interest income).

Normal Course Issuer Bid ("NCIB")

During the six months ended July 31, 2015, 691,170 common shares were purchased for cancellation under the Company's NCIB at an average cost of $0.145. Aberdeen expects to continue to purchase shares over the remainder of its NCIB, depending on market conditions and other investment opportunities that may be available.

Corporate Update

Since the end of the quarter, we are pleased to have closed the previously announced Landmark transaction, resulting in the creation of Ore Acquisition Partners, LP. The completion of this transaction has been strategic for Aberdeen for a number of reasons. Firstly, it allows the Company to reposition our capital towards strategic mining investments that are unique to Aberdeen, such as African Thunder Platinum; secondly, it raises a significant amount of near-term liquidity for us to pursue other strategic investments and take full advantage of the current trough-of-cycle valuations; thirdly, it allows the Company to launch a fee-paying advisory business that will generate income for Aberdeen going forward.

Update to Management Information Circular

Aberdeen has filed under its profile on SEDAR a supplement to its management information circular dated August 18, 2015. The supplement provides information on the Company's diversity policy, which was adopted in January 2015.

Aberdeen believes the diversity policy evidences Aberdeen's commitment to increased diversity, including the identification and nomination of women to the board of directors. In the policy, the Company recognizes the value and unique contribution people can make because of their individual background and different skills, experiences and perspectives. To support this, when identifying candidates to recommend for appointment or nomination to the board and its various committees, the corporate governance and nominating committee will, among other things, consider diversity criteria including gender, age, ethnicity and geographic background. In practice, since introducing the diversity policy, the corporate governance and nominating committee has actively sought and considered female director candidates. Following the upcoming annual and general shareholders' meeting, the committee is scheduled to meet again to consider additional female director candidates. While Aberdeen has not adopted formal targets, it aspires towards board composition in which each gender comprises at least one-third of the independent directors.

At present, there are no female members among the Company's seven board members or its small executive management team. However, the Company is in process of identifying female candidates for the board. With regard to increasing the diversity among its executive officers, during this commodity downturn, Aberdeen has focused on rationalizing costs and reducing compensation. In this context, it has not looked to hire any executive officers, nor does it expect to add any executive officers of any gender.

Cautionary Note

Except for statements of historical fact contained herein, the information in this press release constitutes "forward-looking information" within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as "plans", "proposes", "estimates", "intends", "expects", "believes", "may", "will" and include without limitation, statements regarding, proceeds to be received on closing or subsequently, the ability of the Company to generate additional value for shareholders as a result of such transactions, past success as an indicator of future success; net asset value of the Company; the potential of investee companies and the appreciation of their share price; the Company's plan of business operations; industry opportunities and dynamics and anticipated returns. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, competition, financing risks, acquisition risks, risks inherent in the mining industry, and regulatory risks. Most of these factors are beyond the control of the Company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.