Alexandria Minerals Corporation Closes Second Tranche of Private Placement for Gross Proceeds of $1,875,500
TORONTO, ONTARIO--(Marketwired - Nov. 5, 2015) -
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.
Alexandria Minerals Corp. (TSX VENTURE:AZX)(FRANKFURT:A9D) ("AZX" or the "Company") is pleased to announce that it has closed the second tranche of the combined non-brokered private placement and royalty package sale originally announced on October 21, 2015 for total gross proceeds of $1,875,500.
The Second Tranche of the financing has raised $875,500, in which Alexandria has issued 17,510,000 common shares from treasury stock at a price of 5 cents. A first tranche of the equity financing was completed on October 22, 2015, where 14,000,000 shares were issued from treasury stock at 5 cents for proceeds of $700,000. In addition, Alexandria also sold a Royalty Package for $300,000, as part of the closing of the first tranche (See press release October 22, 2015).
The total equity portion of the financing resulted in an aggregate of 31,510,000 common shares being issued at a price of 5 cents per share, with no warrants attached for proceeds of $1,575,500. The principal investors in this financing have been Agnico Eagle Mines Ltd. and Sandstorm Gold Ltd., together with a third party.
No Finder's Fees nor Commissions were paid on the private placement or the asset sale. All securities issued as part of the private placement will be subject to a minimum hold period of four months from the date of closing. The proceeds from these transactions will be used to continue to advance Alexandria's knowledge of its Val d'Or area projects, and general corporate purposes.
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 Corp. is a Toronto-based junior gold exploration and development company with important gold resources on one of the largest properties along the prolific, gold-producing Cadillac Break in Val d'Or, Quebec, and now with a significant presence in the Snow Lake-Flin Flon gold-base metal mining district of Manitoba. The Company's properties are located in mining districts hosting large, world-class mineral deposits and excellent mining infrastructure.
WARNING: This News Release may contain forward-looking statements including but not limited to comments regarding the timing of completion of the first and second tranches of the private placement and closing of the sale of the royalty package, the use of proceeds of the transactions and receipt of regulatory approval of the private placement. 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 Corp. 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 Corp.
Mary Vorvis
Vice President, Corporate Development and Investor Relations
(416) 305-4999
Alexandria Minerals Corp.
Eric Owens
President/CEO
(416) 363-9372
info@azx.ca
www.azx.ca