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News
10.10.2011
Alexandria Minerals Corporation Announces $3,000,000 Financing
Alexandria Minerals Corporation Announces $3,000,000 Financing
NOT FOR DISSEMINATION IN THE UNITED STATES OR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
Toronto, Ontario (October 6, 2011) – Alexandria Minerals Corporation (the “Company”) (TSX-V: AZX) is pleased to announce that it has engaged Union Securities Ltd. to act as lead agent along with Stonecap Securities Inc. (collectively, the “Agents”) on a commercially reasonable efforts basis for a brokered private placement (the “Private Placement”) consisting of an aggregate of $3,000,000 worth of units (“Units”) and flow-through units (“FT Units”) of the Company at a price of $0.13 per Unit and $0.14 per FT Unit.
Each Unit will consist of one common share of the Company and one non-transferable common share purchase warrant (a “Warrant”). Each whole Warrant will entitle the holder to purchase one additional common share of the Company (a “Warrant Share”) at a price of $0.22 per Warrant Share for a period of 12 months from the completion of the Private Placement. Each FT Unit will consist of one “flow-through” common share of the Company and one-half of one (1/2) Warrant.
In addition, the Company has granted the lead Agent an option (the “Over-allotment Option”) to sell such number of additional Units and FT Units equal to 15% of the number of Units and FT Units sold under the Private Placement. If exercised, the lead Agent must exercise the Over-alloment Option within 5 business days of the closing of the Private Placement.
The Company will pay the Agents a commission equal to 7% of the gross proceeds raised under the Private Placement (including the proceeds of raised upon exercise of the Over-allotment Option, if any). The Agents will also receive compensation options entitling the Agents to purchase such number of Units that is equal to 7% of the total number of Units and FT Units sold under the Private Placement (and Over-allotment Option, if any). Each Agents’ compensation option will entitle the holder to purchase one Unit at a price of $0.13 per Unit for a period of 12 months from completion of the Private Placement.
The net proceeds from the sale of the Units and FT Units will be used for exploration and drilling on its Cadillac Break property group in Val d’Or, Quebec, and for general working capital purposes. Specifically, the Company has delineated a near-term 20,000 m drill programme on its Akasaba and Sleepy projects, where it has been focused over the past 12 to 18 months, and where it has had success at enlarging the gold zones on both properties with strong drill results.
All securities are subject to a four month hold period commencing from the date of closing. The Private Placement is subject to the acceptance of the TSX Venture Exchange.
About Alexandria Minerals Corporation
Alexandria Minerals Corporation is a Toronto-based junior gold exploration and development company with one of the largest property packages along the prolific, gold-producing Cadillac Break in Val d’Or, Quebec. The Company is currently focused on advancing its Akasaba gold-silver project, and has two NI 43-101 compliant gold resources: at Orenada,at a 0.5 g/t cutoff, the company has delineated 446,000 ounces of gold (Measured and Indicated), and 302,000 ounces of gold (Inferred); at Sleepy, the Company has delineated 150,000 ounces of gold (Inferred). Agnico-Eagle Mines Ltd., who has three 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 the timing and content 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.
PLEASE CONTACT
Andreas Curkovic, Investor Relations
(416) 577-9927
Mary Vorvis, Director Business Development
(416) 305-4999
(416) 363-9372
www.azx.ca
info@azx.ca
NEWSLETTER REGISTRIERUNG:
Aktuelle Pressemeldungen dieses Unternehmens direkt in Ihr Postfach:
<a href="http://www.irw-press.com/alert_subscription.php?lang=en&isin=CA0151001009">http://www.irw-press.com/alert_subscription.php?lang=en&isin=CA0151001009</a>
Mitteilung übermittelt durch IRW-Press.com. Für den Inhalt ist der Aussender
verantwortlich.
Kostenloser Abdruck mit Quellenangabe erlaubt.
NOT FOR DISSEMINATION IN THE UNITED STATES OR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
Toronto, Ontario (October 6, 2011) – Alexandria Minerals Corporation (the “Company”) (TSX-V: AZX) is pleased to announce that it has engaged Union Securities Ltd. to act as lead agent along with Stonecap Securities Inc. (collectively, the “Agents”) on a commercially reasonable efforts basis for a brokered private placement (the “Private Placement”) consisting of an aggregate of $3,000,000 worth of units (“Units”) and flow-through units (“FT Units”) of the Company at a price of $0.13 per Unit and $0.14 per FT Unit.
Each Unit will consist of one common share of the Company and one non-transferable common share purchase warrant (a “Warrant”). Each whole Warrant will entitle the holder to purchase one additional common share of the Company (a “Warrant Share”) at a price of $0.22 per Warrant Share for a period of 12 months from the completion of the Private Placement. Each FT Unit will consist of one “flow-through” common share of the Company and one-half of one (1/2) Warrant.
In addition, the Company has granted the lead Agent an option (the “Over-allotment Option”) to sell such number of additional Units and FT Units equal to 15% of the number of Units and FT Units sold under the Private Placement. If exercised, the lead Agent must exercise the Over-alloment Option within 5 business days of the closing of the Private Placement.
The Company will pay the Agents a commission equal to 7% of the gross proceeds raised under the Private Placement (including the proceeds of raised upon exercise of the Over-allotment Option, if any). The Agents will also receive compensation options entitling the Agents to purchase such number of Units that is equal to 7% of the total number of Units and FT Units sold under the Private Placement (and Over-allotment Option, if any). Each Agents’ compensation option will entitle the holder to purchase one Unit at a price of $0.13 per Unit for a period of 12 months from completion of the Private Placement.
The net proceeds from the sale of the Units and FT Units will be used for exploration and drilling on its Cadillac Break property group in Val d’Or, Quebec, and for general working capital purposes. Specifically, the Company has delineated a near-term 20,000 m drill programme on its Akasaba and Sleepy projects, where it has been focused over the past 12 to 18 months, and where it has had success at enlarging the gold zones on both properties with strong drill results.
All securities are subject to a four month hold period commencing from the date of closing. The Private Placement is subject to the acceptance of the TSX Venture Exchange.
About Alexandria Minerals Corporation
Alexandria Minerals Corporation is a Toronto-based junior gold exploration and development company with one of the largest property packages along the prolific, gold-producing Cadillac Break in Val d’Or, Quebec. The Company is currently focused on advancing its Akasaba gold-silver project, and has two NI 43-101 compliant gold resources: at Orenada,at a 0.5 g/t cutoff, the company has delineated 446,000 ounces of gold (Measured and Indicated), and 302,000 ounces of gold (Inferred); at Sleepy, the Company has delineated 150,000 ounces of gold (Inferred). Agnico-Eagle Mines Ltd., who has three 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 the timing and content 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.
PLEASE CONTACT
Andreas Curkovic, Investor Relations
(416) 577-9927
Mary Vorvis, Director Business Development
(416) 305-4999
(416) 363-9372
www.azx.ca
info@azx.ca
NEWSLETTER REGISTRIERUNG:
Aktuelle Pressemeldungen dieses Unternehmens direkt in Ihr Postfach:
<a href="http://www.irw-press.com/alert_subscription.php?lang=en&isin=CA0151001009">http://www.irw-press.com/alert_subscription.php?lang=en&isin=CA0151001009</a>
Mitteilung übermittelt durch IRW-Press.com. Für den Inhalt ist der Aussender
verantwortlich.
Kostenloser Abdruck mit Quellenangabe erlaubt.