By Devika Patel
Knoxville, Tenn., July 9 - Alexandria Minerals Corp. said it is increasing a non-brokered private placement of units to C$1.75 million from C$1 million.
The company now plans to sell C$1.5 million in flow-through units at C$0.13 apiece, increased from its planned sale of 6,666,667 units, which were to be sold at C$0.15 apiece, or C$1 million. Each unit consists of one flow-through common share and a half-share warrant. Each whole warrant is exercisable for two years at C$0.25.
The company also said it is adding a non flow-through component to the deal. It will sell C$250,000 of non flow-through units of one common share and one warrant at C$0.10 per unit. Each of these warrants is exercisable at C$0.23 for two years.
Settlement is expected July 25.
Most of the proceeds will be used to fund exploration activities on the company's properties in Quebec, with a minor portion earmarked for its Matachewan, Ont., property, as well as for corporate purposes.
Alexandria is a Toronto-based mineral exploration and development company.
| Issuer: | Alexandria Minerals Corp.
|
| Issue: | Flow-through units of one flow-through common share and a half-share warrant, non flow-through units of one common share and one warrant
|
| Amount: | C$1.75 million
|
| Agents: | Non-brokered
|
| Pricing date: | June 20
|
| Upsized: | July 9
|
| Settlement date: | July 25
|
| Stock symbol: | TSX Venture: AZX
|
| Stock price: | C$0.11 at close June 19
|
|
|
| Flow-through units
|
| Amount: | C$1.5 million
|
| Price: | C$0.13
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.25
|
|
|
| Non flow-through units
|
| Amount: | C$250,000
|
| Price: | C$0.10
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.23
|
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