TORONTO, ONTARIO--(Marketwire - Dec.
24, 2009) -
THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO
U.S. NEWS AGENCIES
Alexandria Minerals Corporation (TSX VENTURE:AZX)(FRANKFURT:A9D)
announces that it has closed its Non-Brokered Private Placement
("NBPP") totaling $629,620 on December 23, 2009, initially
announced on December 17, 2009.
The NBPP consists of 4,497,286 Flow-Through ("FT") units,
priced at $0.14 per unit. Each FT unit consists of one common share of
the Company and one-half (1/2) of one purchase warrant, with each whole
warrant entitling the holder to acquire one additional non-flow through
(NFT) common share of the Company at a price of $0.20 for a period of
18 months from closing. The securities issued under the private placement
will be subject to a hold period of four months and one day from the
date of closing, being April 24, 2010.
The proceeds from the private placement will be used to fund
exploration activities, primarily diamond drilling on gold exploration
targets on its Akasaba property in Val d'Or, Quebec, where the Company
has had solid success with its exploration activities in 2009.
Alexandria is currently completing a 2,500 meter drill programme at
Akasaba, and expects to release assay results beginning early in the
new year.
"We are excited about our activities in Val d'Or, especially at
Akasaba and Orenada," says Eric Owens, President and CEO of
Alexandria. "And we thank all our shareholders for their continued
support."
A finders fee consisting of cash and finder's warrants, each 7% of the
proceeds, was paid to Canaccord Financial Ltd. ($490 and 3,500
warrants), Pollit & Co. Ltd. ($980 and 7,000 warrants), First
Canadian Capital Corp. ($2,940 and 21,000 warrants), Union Securities
Ltd. ($4,684 and 33,460 warrants), Haywood Securities ITF Bolder
Investment ($1,372 and 9,800 warrants), Trinity Wood Capital
Corporation in Trust ($7,350 and 52,500 warrants), Anthem Capital Group
Inc. ($8,747 and 62,475 warrants) and Barrington Capital Corporation
($8,747 and 62,475 warrants). The finder's warrants have the same terms
as the warrants issued under the private placement. All finder's
warrants will be subject to a hold period of four months and one day
from the date of closing, being April 24, 2010.
Alexandria Minerals Corp. is a Toronto-based mineral exploration and
development company, currently focused on the exploration for precious
metals on mineral properties located in Northern Ontario and Quebec.
The Company's management has extensive global experience with small to
large mining companies, from grass-roots exploration to the
exploitation of mineral deposits. The Company is a reporting issuer in
the provinces of British Columbia, Alberta and Ontario.
This press release, required by applicable Canadian laws, is not for
distribution to U.S. news services or for dissemination in the United
States, and does not constitute an offer of the securities described
herein. These securities have not been registered under the United
States Securities Act of 1933, as amended, or any state securities
laws, and may not be offered or sold in the United States or to U.S.
persons unless registered or exempt therefrom.
WARNING: The Company relies upon litigation protection for
"forward-looking" statements. This News Release may contain
forward-looking statements including but not limited to comments
regarding the timing and content of up-coming work programs, geological
interpretations, receipt of property titles, potential mineral recovery
processes, etc. Forward-looking statements address future events and
conditions and therefore involve inherent risks and uncertainties.
Actual results may differ materially from those currently anticipated
in such statements. Alexandria Minerals Corporation relies upon
litigation protection for forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
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