Oversubscribed offering raises funds for Alaskan Golden Zone project
By Devika Patel
Knoxville, Tenn., April 27 - Alix Resources Corp. said it settled a C$1.73 million private placement of units. The oversubscribed deal priced April 13.
The company sold 6.9 million units of one common share and one warrant at C$0.25 apiece. Each two-year warrant will be exercisable at C$0.30 in the first year and at C$0.35 in the second.
The strike prices reflect premiums of 11.11% and 29.63% to C$0.27, the April 12 closing share price.
Strategic Metals Ltd. invested C$100,000.
Proceeds will be used for the company's Alaskan Golden Zone project and general working capital.
The base and precious metals explorer is based in Vancouver, B.C.
Issuer: | Alix Resources Corp.
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Issue: | Units of one common share and one warrant
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Amount: | C$1,725,000
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Units: | 6.9 million
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Price: | C$0.25
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Warrants: | One warrant per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$0.30 in the first year, C$0.35 in the second year
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Investor: | Strategic Metals Ltd. (for C$100,000)
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Pricing date: | April 13
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Settlement date: | April 27
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Stock symbol: | TSX Venture: AIX
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Stock price: | C$0.25 at close April 13
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Market capitalization: | C$1.32 million
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