Alba Minerals Ltd. closes 7,500,000 unit private placement
10.03.2017 | FSCwire
Vancouver - Alba Minerals Ltd. (“Alba”) (TSX-V: AA.H AXVEF:US) is pleased to announce that the TSX Venture Exchange has approved the closing of a non-brokered private placement announced December 5th 2016.Alba completed the private placement of 7,500,000 units at a price of 10 cents per unit for gross proceeds of $750,000. Each unit consists of one common share of the company and one common share purchase warrant. Each warrant is exercisable to acquire one additional common share of the company at a price of 15 cents per share for a period of 24 months.
In connection with closing of the private placement, the company has paid $50,071 to persons introducing subscribers to the company. 3,150,000 of the shares issued as part of the units are subject to a non-trading holding period expiring on June 15, 2017. For the remaining 4,350,000 shares, the hold period will expire on July 6, 2017.
"The private placement was oversubscribed, and we are pleased with the level of investor interest received," commented Arthur Brown, chief executive officer of the company. "The placement will provide the company with the working capital needed to continue exploration at the Company’s projects in North and South America."
About Alba Minerals Ltd
Alba Minerals Ltd. Is a Vancouver based junior resource company with projects in North and South America, focusing on the development of our Lithium properties. Our Lithium Projects are located in Clayton Valley Nevada where 46 hole drilling program has been completed. Our second Lithium Project is in Salta Province , Argentina, adjacent to World -class lithium projects held by Lithium Americas and Orocobre in one of the world’s leading lithium producing regions.
Please visit our web site for further information: https://www.albamineralsltd.com
ON BEHALF OF THE BOARD OF DIRECTORS
/s/ “Sandy MacDougall”
Chairman, Alba Minerals Ltd.
This news release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company. The following are important factors that could cause the Company’s actual results to differ materially from those expressed or implied by such forward looking statements; the uncertainty of future profitability; and the uncertainty of access to additional capital. These risks and uncertainties could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and expressed qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking information should circumstance or management's estimates or opinions change.
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.