Alabama Graphite Corp. Announces Completion of Private Placement
28.06.2013 | The Newswire
June 28, 2013 - VANCOUVER, Canada - Alabama Graphite Corp. (the "Company") (CNSX:ALP) (OTC:ABGPF) (FRANKFURT: A1G.F WKN: A1J35M) (ISIN# CA0102931080) announces that the Company has completed a private placement of a total of 2,238,050 units shares at price of $0.15 per unit, raising a total of $335,708. Each unit consists of one common share and one transferable common share purchase warrant, with each warrant entitling the holder thereof to acquire one additional common share at a price of $0.25 per share until June 28, 2015. All securities issued in connection with the private placement are subject to a 4-month hold period in Canada. The Company paid finder's fees of 7% cash and 7% finder's warrants on portions of the gross proceeds.The proceeds will be used to fund the ongoing exploration and development program at the Coosa Graphite Project located in Coosa County, Alabama, including a NI 43-101 compliant resource estimate and a preliminary economic assessment, and for general working capital.
In the United States, the common shares were offered and sold pursuant to exemptions from the registration requirements of the United States Securities Act of 1933 (the "1933 Act"). The common shares have not been and will not be registered under the 1933 Act and may not be offered or sold in the United States absent registration or an exemption from the registration requirements of the 1933 Act. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.
About Alabama Graphite:
Alabama Graphite Corp., through its wholly-owned subsidiary, Alabama Graphite Company Inc., is a graphite exploration and development company whose flagship project "The Coosa Graphite Project" in Coosa County, Alabama is located in an area with significant historical production of crystalline flake graphite. For further details go to www.alabamagraphite.co
ALABAMA GRAPHITE CORP.
Daniel Spine, President & CEO
(404) 661-6254
Alabama Graphite Corp.
Danny Gravelle, Investor Relations
(949) 481-5396
ir@alabamagraphite.co
THE CANADIAN NATIONAL STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
THIS NEWS RELEASE IS NOT INTENDED AS A SOLICITATION TO PURCHASE SECURITIES OF THE COMPANY.