TORONTO, ONTARIO--(Marketwire - Oct. 30, 2012) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.
Alexandria Minerals Corporation (TSX VENTURE:AZX)(FRANKFURT:A9D) is pleased to announce that it has engaged Laurentian Bank Securities Inc. to act as lead agent (the "Agent") on a brokered private placement (the "Private Placement") consisting of an aggregate of up to $2,500,000 Flow-Through Units (the "Flow-Through Units") consisting of "Quebec Flow-Through Units" (the "QFT Unit") and "National Flow-Through Units" (the "NFT Unit") at a price of $0.125 per QFT Unit and $0.115 per NFT Unit.
Each QFT Unit and NFT Unit will consist of one "Flow-Through" common share of the Company and one half of one (1/2) non-transferable common share purchase warrant (a "Warrant"). Each whole Warrant will entitle the holder to purchase one additional common share of the Company (a "Warrant Share") at a price of $0.18 for a period of 18 months from the completion of the Private Placement.
In addition, the Company has granted the Agent an option (the "Over-allotment Option") to sell additional Flow-Through Units equal to up to $1,000,000 exercisable for a period up to 48 hours prior to the Closing Date.
The Company will pay the Agent a cash commission equal to 7% of the gross proceeds raised under the Private Placement (including the proceeds of the amount raised upon exercise of the Over-allotment Option, if any). The Agent will also receive "Broker Warrants" " entitling the Agent to purchase that number of common shares equal to 7% of the aggregate number of Flow-Through Units issued by the Company with an exercise price equal to $0.18 per Broker Warrant. Each Broker Warrant will entitle the holder to purchase one common share of the Company and will be exercisable for a period of 18 months from the completion of the Private Placement.
The proceeds from the sale of the Units and FT Units will be used for exploration and drilling on its Cadillac Break property group in Val d'Or, Quebec. Focus will be on step-out drilling on its Akasaba gold-copper project on which it has had considerable success enlarging through drilling throughout recent months.
All securities are subject to a four month hold period commencing from the date of closing. The Private Placement is subject to the acceptance of the TSX Venture Exchange.
In other matters, the company has retained the consulting services of Vincent Marciano ("Marciano") to provide newsletter writing and dissemination for a period of one year. Compensation to Marciano for these services includes payment of $1,500USD per month from April 2013 to September 2013 and, subject to approval by the Toronto Stock Venture Exchange (TSXV), issuance of 150,000 incentive stock options at an exercise price of $0.18, expiring on December 31, 2014. There is no prior relationship between Marciano and Alexandria Minerals Corporation, nor is there any prior direct or indirect interest in Alexandria Minerals Corporation or its securities or any right to acquire such an interest, on the part of Marciano.
Further information about the Company is available on the Company's website, www.azx.ca, or our social media sites listed below:
About Alexandria Minerals Corporation
Alexandria Minerals Corporation is a Toronto-based junior gold exploration and development company with one of the largest portfolio of properties along the prolific, gold-producing Cadillac Break in Val d'Or, Quebec. The Company is currently focused on advancing its Akasaba project. Agnico-Eagle Mines Ltd., with two producing gold mines in the region, owns roughly 10% of the Company.
WARNING: This News Release may contain forward-looking statements including but not limited to comments regarding Exchange approval of the Private Placement, completion of the Private Placement, exercise of the over-Allotment option, the use of proceeds of the private placement, the timing, content, and outcome 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.
The securities offered have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Neither the 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.