Alexandria Minerals Corporation (TSX-V:AZX) (OTCQB:ALXDF) (Frankfurt:A9D ) is pleased to announce that further to its press release dated September 11, 2018, the Company received final regulatory approval on September 12, 2018 and has closed its previously announced non-brokered private placement by issuing 18,190,910 common shares of the Company issued on a “CEE flow-through” basis pursuant to the Income Tax Act (Canada) at a price of $0.055 per Flow-Through Share, for gross proceeds of $1,000,500. Finder’s fees of 6% cash were paid on the entire amount under the Offering in accordance with the policies of the TSX Venture Exchange.
As previously announced, the proceeds of the Offering will be used to pursue the Company’s ongoing exploration and drilling program on its Company’s Cadillac Break properties in Quebec. An update on Corporate developments and details of the planned exploration at the Company’s Cadillac Break properties will be provided in the near term.
In addition, the Company is also pleased to announce that further to its press release dated August 17, 2018, the Company received final approved and it has closed with certain third-party contractors the settling of an aggregate of $468,000 of debt by issuing 8,509,091 common shares of the Company at a price of $0.055 per common share.
All securities issued pursuant to the above-referenced Offering and debt settlements are subject to a statutory four month hold period.
About Alexandria Minerals Corporation
Alexandria Minerals Corporation is a Toronto-based junior gold exploration and development company with strategic properties located in the world-class mining districts of Val d’Or, Quebec, Red Lake, Ontario and Snow Lake-Flin Flon, Manitoba. Alexandria’s focus is on its flagship property, the large Cadillac Break Property package in Val d’Or, which hosts important, near-surface, gold resources along the prolific, gold-producing Cadillac Break, all of which have significant growth potential.
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