TORONTO, ONTARIO--(Marketwire - Dec.
17, 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 a Non Brokered Private Placement (NBPP) for up to 3,571,428
flow through (FT) units at a price of $0.14 per unit, resulting in
gross proceeds of up to $500,000.
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. The Akasaba
property is part of the extensive, 35 km long Cadillac Break property
group, where the Company is advancing 3 gold deposits, the Orenada,
Akasaba, and Sleepy deposits.
Each FT unit
will be comprised of one FT common share of the Company and one-half
(1/2) of one warrant, with each whole warrant entitling the holder to
acquire one additional non-flow through common share of the Company at
a price of $0.20 for a period of 18 months from closing.
The closing of the private placement is expected to occur on or about
December 22nd, 2009, and is subject to the receipt of all the required
regulatory approvals, including the approval of the TSX Venture
Exchange. All securities issued pursuant to the offering shall be
subject to a hold period of four months from the date of closing. A
finders fee of up to 7% cash and up to 7% warrants of the gross
proceeds raised may be paid by the Corporation in connection with this
offering, in accordance with the policies of the TSX Venture Exchange.
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.
Forwardlooking 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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