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Alpha Minerals Inc. Closes $12,280,000 Private Placement

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Alpha Minerals Inc. Closes $12,280,000 Private Placement






Alpha Minerals Inc. (TSX VENTURE:AMW) is pleased to announce that it has completed its previously announced private placement of 1,200,000 flow-through shares at a price of $4.40 per Flow-Through Share and 1,750,000 units at a price of $4.00 per Unit for aggregate gross proceeds of $12,280,000. Each Unit is comprised of one non-flow-through share and one-half of one common share purchase warrant. Each whole Warrant entitles the holder to acquire one common share at an exercise price of $5.00 for a period of 24 months from closing of the Offering.

The Offering was completed by a syndicate of underwriters comprised of Salman Partners Inc., Cormark Securities Inc. and Raymond James Ltd. The Underwriters received a commission equal to 5% of the gross proceeds of the Offering and broker warrants entitling them to purchase that number of common shares equal to 3% of the Flow-Through Shares and Units sold under the Offering. Each broker warrant entitles the holder to acquire one common share at an exercise price of $4.40 for a period of 24 months from closing of the Offering. All securities issued in connection with the Offering will be subject to a four-month hold period under applicable Canadian securities laws which expires on August 26, 2013.

The proceeds from the FT Shares of the Offering will be used to incur eligible Canadian Exploration Expenses, as defined under the Income Tax Act (Canada), that will be renounced in favour of the purchasers with an effective date of no later than December 31, 2013. The funds are intended to be used in upcoming work programs to explore and advance Alpha’s Joint Venture Patterson Lake South Property in the South West Athabasca Region of Saskatchewan, and for general working purposes.

Patterson Lake South Property

The 31,000 hectare (76,000 acres) PLS project is a 50%/50% Joint Venture held by Alpha Minerals Inc (AMW) and Fission Energy (FIS). The Joint Venture property is 100% owned with no underlying royalties or vendor payments. Fission is the Operator until April 1st 2014. The property is accessible by road with primary access from all-weather Highway 955, which runs north to the former Cluff Lake mine, (greater than 60M lbs of U3O8 produced), and passes through the nearby UEX-Areva Shea Creek discoveries located 50km to the north, currently under active exploration and development.

Posted April 26, 2013

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