Alexandria Minerals Corporation Closes First Tranche of Financing
11.09.2013 | Marketwire
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.TORONTO, ONTARIO -- (Marketwired - Sept. 11, 2013) - Alexandria Minerals Corporation (TSX VENTURE:AZX) (FRANKFURT:A9D) is pleased to announce that it has completed a first tranche of the non-brokered private placement financing (the "Private Placement"), first announced on September 10, 2013.
The first tranche consists of 3,500,000 shares at a price of C$0.10 per share for gross proceeds of $350,000. The second tranche is anticipated to close in October, and will provide the remainder of funds totaling $800,000 resulting in the issuance of a total of 8,000,000 shares at a price of $0.10 per share.
The proceeds from the sale of the shares will be used for exploration on its Cadillac Break property group in Val d'Or, Québec. Focus will be on step-out drilling on its Akasaba gold-copper project on which it has had considerable success enlarging through drilling during the past 18 months.
The private placement announced in this news release is subject to certain conditions, including receipt by Alexandria of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. All securities issued as part of the private placement will be subject to a hold period of four months from the date of closing.
Further information about the Company is available on the Company's website, www.azx.ca, or our social media sites listed below:
Facebook: https://www.facebook.com/AlexandriaMinerals
Twitter: https://twitter.com/azxmineralscorp
YouTube: http://www.youtube.com/AlexandriaMinerals
Flickr: http://www.flickr.com/alexandriaminerals/
About Alexandria Minerals Corporation
Alexandria Minerals Corporation is a Toronto-based junior gold exploration and development company with one of the largest portfolio of properties along the prolific, gold-producing Cadillac Break in Val d'Or, Quebec. The Company is currently focused on advancing its Akasaba project. Agnico-Eagle Mines Ltd., with two producing gold mines in the region, owns roughly 10% of the Company.
WARNING: This News Release may contain forward-looking statements including but not limited to comments regarding Exchange approval of the Private Placement, completion of the Private Placement, exercise of the over-Allotment option, the use of proceeds of the private placement, the timing, content, and outcome of up-coming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Alexandria Minerals Corporation relies upon litigation protection for forward-looking statements.
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.
Contact
Alexandria Minerals Corporation
Andreas Curkovic, Investor Relations
(416) 577-9927
Alexandria Minerals Corporation
Eric Owens, President/CEO
416-363-9372
info@azx.ca
www.azx.ca