By Laura Lutz
Des Moines, May 18 - Alexandria Minerals Corp. closed the brokered portion of its previously announced private placement of units for C$4,583,247.66, down slightly from the C$4,696,447.66 that the brokered portion was expected to raise.
As of May 8, the full placement was expected to raise C$7,254,708. It had originally priced on April 18 as a C$5.5 million offering.
In the brokered tranche, the company sold 7,657,600 non flow-through units at C$0.32 each and 5,612,757 flow-through units at C$0.38 each. Fraser Mackenzie Ltd. was the agent.
After the placement was upsized on May 8, the brokered portion had been expected to include 7,892,500 non flow-through units and 5,712,757 flow-through units.
As of May 8, the placement was expected to include up to 11,096,250 non flow-through units and 9,747,125 flow-through units.
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 shares at C$0.48 for one year.
The company said on Friday morning that the remaining, non-brokered portion of the placement was expected to settle later in the day.
Proceeds will be used for exploration and working capital.
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 18 (for C$4,583,247.66)
|
| Stock symbol: | TSX Venture: AZX
|
| Stock price: | C$0.34 at close April 18
|
| Stock price: | C$0.35 at close May 7
|
| Stock price: | C$0.35 at close May 17
|
|
|
| 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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