Alpha Completes First Tranche of Private Placement
October 3, 2014 (Source: Newsfile) — Alpha Exploration Inc. (TSXV: AEX), (“Alpha”, or the “Company”), is pleased to announce that it has completed the first tranche of a non-brokered private placement and issued 2,962,777 flow-through units (a “FT Unit”) consisting of one flow-through common share and one-half of one share purchase warrant (a “Warrant”) at a price of $0.18 per FT Unit (the “Offering”).
Each whole Warrant will entitle the holder to purchase one common share at $0.25 per share at any time until the close of business on the day which is 18 months from the date of issue of the Warrant. Accordingly, the Company has issued a total of 2,962,777 common shares and 1,481,387 Warrants in return for gross proceeds of $533,300.
The Company intends to use the proceeds from the Offering to fund exploration expenditures on its portfolio of mineral properties in the Athabasca Basin in northern Saskatchewan. The Company paid $16,567 as finder’s fees in connection with the Offering.
About Alpha Exploration Inc.
Alpha is a junior mineral exploration company focused on uranium in the Athabasca Basin in northern Saskatchewan, Canada. Its common shares are listed on the TSX Venture Exchange under the symbol “AEX”. The Company actively explores a portfolio of early-stage properties, and continually and proactively reviews opportunities for new properties, whether by staking, joint venture or acquisition.
On behalf of the Board of Directors of Alpha Exploration Inc.
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“Dr. Michael H. Gunning”
Interim CEO and Chairman
Please refer to the Alpha Exploration Inc. website for further and updated information.
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.
Forward Looking Statements: The above contains forward looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry. Forward-looking statements in this release include statements regarding future exploration programs, operation plans, geological interpretations, mineral tenure issues and mineral recovery processes. Although we believe the expectations reflected in our forward looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>