By Laura Lutz
Des Moines, May 8 - Alexandria Minerals Corp. increased the maximum size of its previously announced private placement of units to C$7,254,708 from C$5.5 million.
The company now plans to sell up to 11,096,250 non flow-through units at C$0.32 per unit as well as up to 9,747,125 flow-through units at C$0.38 per unit.
Each non flow-through unit will consist of one non flow-through share and one half-share warrant. Each flow-through unit will consist of one flow-through share and one half-share warrant.
The warrants from both series of units will each be exercisable for one non flow-through share at C$0.48 for one year.
Proceeds will be used for exploration and working capital.
Fraser Mackenzie Ltd. will act as agent for 7,892,500 of the non flow-through units and 5,712,757 of the flow-through units.
Settlement is expected on May 15.
Alexandria is a Toronto-based mineral exploration and development company.
| Issuer: | Alexandria Minerals Corp.
|
| Issue: | Units of one non flow-through share and one half-share warrant; units of one flow-through share and one half-share warrant
|
| Amount: | C$7,254,708
|
| Agent: | Fraser Mackenzie Ltd. (for 7,892,500 non flow-through units and 5,712,757 of flow-through units); non-brokered (for remainder)
|
| Pricing date: | April 18
|
| Upsized: | May 8
|
| Settlement date: | May 15
|
| Stock symbol: | TSX Venture: AZX
|
| Stock price: | C$0.34 at close April 18
|
| Stock price: | C$0.35 at close May 7
|
|
|
| Non flow-through units
|
| Units: | 11,096,250
|
| Price: | C$0.32
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.48
|
|
|
| Flow-through units
|
| Units: | 9,747,125
|
| Price: | C$0.38
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.48
|
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