Non-brokered deal funds exploration on Cadillac Break property group
By Devika Patel
Knoxville, Tenn., Oct. 18 - Alexandria Minerals Corp. said it increased a non-brokered private placement of stock to C$1.03 million from C$800,000. The offer priced on Sept. 10 and raised C$350,000 on Sept. 11.
The company will now sell 10,264,420 common shares at C$0.10 per share. The price per share is a 100% premium to the Sept. 9 closing share price of C$0.05. Alexandria sold 3.5 million shares in the initial tranche.
Proceeds will be used for exploration on the Cadillac Break property group in Val d'Or, Quebec.
Alexandria is a Toronto-based gold exploration and development company.
| Issuer: | Alexandria Minerals Corp.
|
| Issue: | Common stock
|
| Amount: | C$1,026,442
|
| Shares: | 10,264,420
|
| Price: | C$0.10
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Sept. 10
|
| Upsized: | Oct. 18
|
| Settlement date: | Sept. 11 (for C$350,000)
|
| Stock symbol: | TSX Venture: AZX
|
| Stock price: | C$0.05 at close Sept. 9
|
| Market capitalization: | C$5.14 million
|
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