By Devika Patel
Knoxville, Tenn., July 22 - Alexandria Minerals Corp. said it completed the first tranche of a C$1.75 million non-brokered private placement of units, raising C$1.39 million. The deal priced on June 20 and the company lifted the size to C$1.75 million from C$1 million on July 9.
In this tranche, the company sold 1.25 million units at C$0.10 per unit for C$125,000 and 9,723,078 flow-through units at C$0.13 apiece for C$1.26 million.
The company plans to sell C$1.5 million in flow-through units at C$0.13 apiece.
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 will sell C$250,000 in 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.
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 22 (for C$1,389,000.14)
|
| 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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