Alexandria Minerals Announces $4 Million Private Placement
TORONTO, ONTARIO--(Marketwired - May 30, 2016) -
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 a non-brokered private placement of up to $4,000,000 (the "Private Placement").
The Private Placement will consist of: Quebec flow-through units ("Quebec FT Units") at a price of $0.07 per Quebec FT Unit; non-flow-through units ("Units") at a price of $0.06 per Unit; and national flow-through units ("National FT Units") at a price of $0.06 per National FT Unit. The Company will allocate the Private Placement amongst Quebec FT Units, Units and National FT Units based upon investor demand. Each Quebec FT Unit will be comprised of one flow-through common share and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Unit will be comprised of one non-flow-through common share and one-half of one Warrant. Each National FT Unit will be comprised of one flow-through common share and one-half of one Warrant. Each whole Warrant will entitle the holder, on exercise, to acquire one common share at an exercise price of $0.10 for a period of three years. All securities issued under the Private Placement will be subject to a four-month hold period in accordance with applicable securities laws.
In addition, finder's fees shall be paid to Medalist Capital Ltd. in the amount of up to 6% of the gross proceeds of the Private Placement and 6% finder's warrants, with each such warrant exercisable to acquire one common share at a price of $0.06 for 3 years. The Private Placement remains subject to the approval of the TSX Venture Exchange. The proceeds from these transactions will be used for exploration 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 important mining infrastructure.
WARNING: This News Release may contain forward-looking statements including but not limited to comments regarding the timing of completion of the Private Placement, the use of proceeds of the Private Placement 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
Mary Vorvis
Vice President, Corporate Development and Investor Relations
(416) 305-4999
Eric Owens
President/CEO
416-363-9372
info@azx.ca
www.azx.ca