Alexandria Minerals to Raise $1.8 Million21 Oct 2015
TORONTO, ONTARIO–(Oct. 21, 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 Corporation (TSX VENTURE:AZX) (FRANKFURT:A9D) (“AZX” or the “Company”) is pleased to announce a combined $1.8 million non-brokered private placement and royalty package sale.
The private placement component of this transaction totals $1,500,000, resulting in the issuance of 30,000,000 common shares from treasury stock at 5 cents per share, with no warrants to be issued. The royalty package will be sold for $300,000 to an arm’s length third party and will consist of the grant of a net smelter return royalty (“NSR”) and assignment of existing buy-back rights on certain claims in the Val d’Or area.
There are neither Finder’s Fees nor Commissions to be paid on this private placement, which is subject to certain conditions and the receipt by Alexandria of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. 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 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:
About Alexandria Minerals Corporation
Alexandria Minerals Corporation 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 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 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.