By Laura Lutz
Des Moines, Nov. 8 - Alexandria Minerals Corp. plans to conduct a private placement of units for up to C$2 million.
The company intends to sell up to 5,263,158 non flow-through units at C$0.19 apiece and 4,166,667 flow-through units at C$0.24 apiece.
Each non flow-through unit consists of one non flow-through share and one half-share non flow-through warrant, with each whole warrant exercisable at C$0.25 for one year.
Each flow-through unit consists of one flow-through share and one half-share non flow-through warrant, with each whole warrant exercisable at C$0.34 for one year.
Proceeds of the non-brokered placement will be used for drilling on the company's Aur Resources and Cambior properties in Val d'Or, Quebec, and for working capital.
Settlement is expected by Nov. 30, subject to regulatory approvals.
Alexandria is a Toronto-based mineral exploration company.
| Issuer: | Alexandria Minerals Corp.
|
| Issue: | Units of one non flow-through share and one half-share non flow-through warrant and units of one flow-through share and one half-share non flow-through warrant
|
| Amount: | C$2 million
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 8
|
| Settlement date: | Nov. 30
|
| Stock symbol: | TSX Venture: AZX
|
| Stock price: | C$0.23 at close Nov. 8
|
|
|
| Non flow-through units
|
| Units: | 5,263,158
|
| Price: | C$0.19
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.25
|
|
|
| Flow-through units
|
| Units: | 4,166,667
|
| Price: | C$0.24
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.34
|
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