Offering raises proceeds for exploration, drilling, working capital
By Devika Patel
Knoxville, Tenn., Oct. 26 - Alexandria Minerals Corp. said it completed a C$3 million private placement of units that priced on Oct. 6. The deal was conducted on a commercially reasonable efforts basis by an agent syndicate led by Union Securities Ltd. and including Stonecap Securities Inc.
The company sold 15,610,793 flow-through units of one flow-through common share and one half-share warrant at C$0.14 per unit and 6,265,000 units of one common share and one warrant at C$0.13 per unit.
Each whole warrant is exercisable at C$0.22 for one year. The strike price is a 100% premium to C$0.11, the Oct. 5 closing share price.
Agnico-Eagle Mines was among the investors.
Proceeds will be used for exploration and drilling on the company's Cadillac Break property group in Val d'Or, Quebec, and for general working capital purposes.
Alexandria is a Toronto-based gold exploration and development company.
| Issuer: | Alexandria Minerals Corp.
|
| Issue: | Flow-through units of one flow-through common share and one half-share warrant, units of one common share and one warrant
|
| Amount: | C$3 million
|
| Warrant strike price: | C$0.22
|
| Warrant expiration: | One year
|
| Agent: | Union Securities Ltd. (lead), Stonecap Securities Inc.
|
| Investor: | Agnico-Eagle Mines
|
| Pricing date: | Oct. 6
|
| Settlement date: | Oct. 26
|
| Stock symbol: | TSX Venture: AZX
|
| Stock price: | C$0.12 at close Oct. 6
|
| Market capitalization: | C$13.81 million
|
|
|
| Flow-through units
|
| Amount: | C$2,185,511
|
| Units: | 15,610,793
|
| Price: | C$0.14
|
| Warrants: | One half-share warrant per unit
|
|
|
| Units
|
| Amount: | C$814,450
|
| Units: | 6,265,000
|
| Price: | C$0.13
|
| Warrants: | One warrant per unit
|
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