ALX Uranium Acquires the North and South Carter Corridor Properties
Vancouver, B.C. (FSCwire) - ALX Uranium Corp. (“ALX” or the “Company) (TSXv: AL; FSE: 6LLN; OTCQX: ALXEF) is pleased to announce that, subject to the approval of the TSX Venture Exchange, it has entered into two agreements dated April 13, 2016 with Ryan Kalt (the “Vendor”), to acquire a 100% right, title and interest in and to mineral claims in the North and South Carter Corridor Properties located in Saskatchewan (collectively, the “Properties”).
In consideration for the purchase, the Company will issue an aggregate of 250,000 common shares at a deemed value of $0.115 per common share on the closing date.
The Properties are each subject to a 2.5% net smelter return royalty payable by the Company to the Vendor, calculated on a calendar quarterly basis.
About ALX Uranium Corp.
ALX Uranium Corp. was formed as the result of a business combination between Lakeland Resources Inc. and Alpha Exploration Inc. ALX is based in Vancouver and its common shares are listed on the TSX Venture Exchange under the symbol "AL", on the Frankfurt Stock Exchange under the symbol “6LLN” and in the United States OTCQX under the symbol “ALXEF”. ALX is actively exploring a portfolio of early-stage properties. Technical reports are available on SEDAR (www.sedar.com) for several of the Company’s active properties. ALX continually and proactively reviews opportunities for new properties, whether by staking, joint venture or acquisition.
For more information, please visit the corporate website at www.alxuranium.com or contact Roger Leschuk, Corporate Communications at Ph: 604.681.1568 or TF: 1.877.377.6222 or email: rleschuk@alxuranium.com
On Behalf of the Board of Directors
ALX Uranium Corp.
"Jonathan Armes"
Jonathan Armes
President, CEO and Director
Cell: 416.708.0243
Ph: 604.681.1568
TF: 1.877.377.6222
Email: jarmes@alxuranium.com
FORWARD LOOKING STATEMENTS:
Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward looking statements in this news release include statements, for example, that the acquisition to acquire a 100% interest in the North and South Carter Corridor Properties, and that ALX can source new property opportunities. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Risks and uncertainties include economic, competitive, governmental, environmental and technological factors that may affect the Company's operations, markets, products and prices. Factors that could cause actual results to differ materially include that the TSXV does not approve the acquisition; that we may not be able to raise sufficient other funds to complete our intended exploration and development. We will update forward looking statements only to the extent required by law.
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.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/alx04222016.pdf
Source: ALX Uranium Corp. (TSX Venture:AL, OTCQX:ALXEF)
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