Gold

ALX Resources Corp. (TSXV: AL) (FSE: 6LLN) (OTC: ALXEF) ("ALX" or the "Company") is pleased to announce the closing today of the third and final tranche of its previously announced non-brokered private placement (see ALX news releases dated (October 24, 2022,November 3, 2022, andNovember 17, 2022) consisting of 2,200,000 flow-through units (the "FT Units") of the Company for gross proceeds of $110,000 (the "Third Tranche"). A total of 20,000,000 FT units and 6,125,000 non flow-through units were sold in three tranches for gross proceeds to the Company of $1,245,000 (the "Offering").

The FT Units in the Third Tranche were sold at a price of $0.05 per FT Unit consisting of one flow-through common share and one-half of one non flow-through common share purchase warrant. One whole common share purchase warrant from the FT Units entitles the holder to purchase one non flow-through common share of the Company at a price of $0.075 for a period expiring 36 months from closing, that date being November 21, 2025.

Finder's fees for Third Tranche of the Offering totaled $6,600 cash and 132,000 finder's warrants paid to Red Cloud Securities Inc. The finder's warrants are exercisable at $0.05 (the price of each FT Unit placed) for one common share of the Company for a period of three years following closing of the Third Tranche, and expiring November 21, 2025. Finder's fees for the Offering totaled $56,850 cash and 1,137,000 finder's warrants.

All securities issued in the Third Tranche will be subject to a resale restriction expiring March 22, 2023, in accordance with applicable securities regulations. The proceeds from the sale of the FT Units will be used for exploration programs on the Company's critical minerals properties in Quebec, Saskatchewan, Ontario and Nova Scotia.

About ALX

ALX is based in Vancouver, BC, Canada and its common shares are listed on the TSX Venture Exchange under the symbol "AL", on the Frankfurt Stock Exchange under the symbol "6LLN" and in the United States OTC market under the symbol "ALXEF".

ALX's mandate is to provide shareholders with multiple opportunities for discovery by exploring a portfolio of prospective mineral properties, which include uranium, lithium, nickel-copper-cobalt and gold projects. The Company uses the latest exploration technologies and holds interests in over 220,000 hectares of prospective lands in Saskatchewan, a stable Canadian jurisdiction that hosts the highest-grade uranium mines in the world, a producing gold mine, and production from base metals mines, both current and historical.

ALX's uranium holdings in northern Saskatchewan include 100% interests in the Gibbons Creek Uranium Project, the Sabre Uranium Project and the Javelin and McKenzie Lake Uranium Projects, a 40% interest in the Black Lake Uranium Project (a joint venture with Uranium Energy Corporation and Orano Canada Inc.), and a 20% interest in the Hook-Carter Uranium Project, located within the uranium-rich Patterson Lake Corridor with Denison Mines Corp. (80% interest) as operator of exploration since 2016.

ALX owns 100% interests in four lithium exploration properties staked in September 2022 collectively known as the Hydra Lithium Project, located in the James Bay region of northern Quebec, Canada, and a 100% interest in the Anchor Lithium Project in Nova Scotia, Canada.

ALX also owns 100% interests in the Firebird Nickel Project (now under option to Rio Tinto Exploration Canada Inc., who can earn up to an 80% interest), the Flying Vee Nickel/Gold and Sceptre Gold projects, and can earn up to an 80% interest in the Alligator Lake Gold Project, all located in northern Saskatchewan, Canada. ALX owns, or can earn, up to 100% interests in the Electra Nickel Project and the Cannon Copper Project located in historic mining districts of Ontario, Canada, the Vixen Gold Project (now under option to First Mining Gold Corp., who can earn up to a 100% interest in two stages), and in the Draco VMS Project in Norway.

For more information about the Company, please visit the ALX corporate website at www.alxresources.com or contact Roger Leschuk, Manager, Corporate Communications at: PH: 604.629.0293 or Toll-Free: 866.629.8368, or by email: rleschuk@alxresources.com.

On Behalf of the Board of Directors of ALX Resources Corp.

"Warren Stanyer"

Warren Stanyer, CEO and Chairman

FORWARD-LOOKING STATEMENTS

Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward-looking statements in this news release include: the anticipated use of proceeds of the Third Tranche of the Offering. It is important to note that the Company's actual business outcomes could differ materially from those in such forward-looking statements. Risks and uncertainties for the Company include that ALX may not be able to fully finance exploration on our exploration projects, including drilling; our initial findings at our exploration projects may prove to be unworthy of further expenditures; commodity prices may not support further exploration expenditures; exploration programs may be delayed or changed due to any delays experienced in consultation and engagement activities with First Nations and Metis communities and the results of such consultations; and economic, competitive, governmental, societal, public health, environmental and technological factors may affect the Company's operations, markets, products and share price. Even if we explore and develop our projects, and even if uranium, lithium, nickel, copper, gold or other metals or minerals are discovered in quantity, ALX's projects may not be commercially viable. Additional risk factors are discussed in the Company's Management Discussion and Analysis for the Six Months Ended June 30, 2022, which is available under the Company's SEDAR profile at www.sedar.com. Except as required by law, we will not update these forward-looking statement risk factors.

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

Source

Click here to connect with ALX Resources Corp. (TSXV: AL) (FSE: 6LLN) (OTC: ALXEF), to receive an Investor Presentation

AL:CA
ALX Resources

ALX Resources


Keep reading...Show less
ALX Resources Corp. Closes Second Tranche of Private Placement

ALX Resources Corp. Closes Second Tranche of Private Placement

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.

ALX Resources Corp. (TSXV: AL) (FSE: 6LLN) (OTC: ALXEF) ("ALX" or the "Company") is pleased to announce the closing today of the second tranche of its previously announced non-brokered private placement (see ALX news release dated October 24, 2022) consisting of 6,125,000 non flow-through units (the "NFT Units") of the Company for gross proceeds of $245,000 (the "Second Tranche").

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
ALX Resources Corp. Locates Pegmatites at the Hydra Lithium Project in Quebec

ALX Resources Corp. Locates Pegmatites at the Hydra Lithium Project in Quebec

ALX Resources Corp. (TSXV: AL) (FSE: 6LLN) (OTC: ALXEF) ("ALX" or the "Company") is pleased to announce that it has completed a reconnaissance prospecting program at the Hydra Lithium Project ("Hydra", or the "Project") in the James Bay region of northern Quebec, Canada. Hydra consists of 306 mineral claims in four sub-projects totalling 15,837 hectares (39,134 acres), located in a world-class lithium exploration district that hosts several significant lithium-cesium-tantalum ("LCT") type pegmatites. Hydra is 100%-owned by ALX with no applicable royalties and the newly-staked claims are in good standing until September 2025.

Highlights of ALX's Hydra Prospecting Program

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
ALX Resources Corp. Samples 1.11% Nickel at the Flying Vee Nickel Project, Northern Athabasca Basin Area, Saskatchewan

ALX Resources Corp. Samples 1.11% Nickel at the Flying Vee Nickel Project, Northern Athabasca Basin Area, Saskatchewan

ALX Resources Corp. (TSXV: AL) (FSE: 6LLN) (OTC: ALXEF) ("ALX" or the "Company") is pleased to announce that recent surface sampling at the Flying Vee Nickel Project ("Flying Vee", or the "Project") performed as follow up to a 2022 airborne electromagnetic ("EM") survey has returned values of up to 1.11% nickel and 0.42% copper from a historical trench located over a newly-identified EM conductor. Flying Vee is located in the Athabasca region of northern Saskatchewan approximately 25 kilometres (16 miles) north of Stony Rapids, Saskatchewan, Canada.

Highlights of 2022 Flying Vee Prospecting and Sampling Program

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
ALX Resources Corp. Invites You to Join Us at the Red Cloud Fall Mining Showcase 2022

ALX Resources Corp. Invites You to Join Us at the Red Cloud Fall Mining Showcase 2022

ALX Resources Corp. (TSXV: AL) is pleased to announce that the company will be presenting at Red Cloud's 2022 Fall Mining Showcase. We invite our shareholders and all interested parties to join us there.

The annual conference will be hosted in-person, at the Sheraton Centre Toronto Hotel from November 9-10, 2022.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
ALX Resources Corp. Samples Radioactive Zones at the Sabre Uranium Project, Athabasca Basin, Saskatchewan

ALX Resources Corp. Samples Radioactive Zones at the Sabre Uranium Project, Athabasca Basin, Saskatchewan

ALX Resources Corp. (TSXV: AL) (FSE: 6LLN) (OTC: ALXEF) ("ALX" or the "Company") is pleased to announce the completion of a prospecting program at the Sabre Uranium Project ("Sabre", or the "Project") in northern Saskatchewan. Sabre consists of 16 mineral claims encompassing 16,041 hectares (39,637 acres), located along the northern margin of the Athabasca Basin near Richards Lake, SK, approximately 60 kilometres (40 miles) west of the community of Stony Rapids, SK. Two radioactive zones were located on surface in the Athabasca sandstone by ALX's prospecting team adjacent to an interpreted structural zone of quartz vein brecciation.

Highlights of the 2022 Sabre Prospecting Program

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
i-80 Gold Corp.

i-80 Gold Corp.

i-80 Gold Corp is a well-financed gold producer and developer holding an impressive portfolio of advanced-stage gold projects in the State of Nevada. The company's primary goal is to build a self-sustaining, mid-tier, mining company with a peer-best growth platform by employing a methodical, capital disciplined and staged approach to minimize risk while also assessing and monitoring for accretive growth opportunities.

gold bars

Top 5 Gold Stocks on the TSX (Updated November 2022)

Click here to read the previous best gold stocks article.

The gold price is finally gaining some ground after falling below US$1,650 per ounce in September for the first time since 2020. The yellow metal neared US$1,800 in mid-November and is now sitting above US$1,750.

Even so, gold is still under pressure, and some experts think now is the time to buy. The Investing News Network spoke with Mark Yaxley, managing director of bullion dealer SWP, twice in November, and he shared his advice on buying bullion both times.

"My advice … to my clients, who are mostly Canadians and Americans, is maybe you should be mirroring eastern investors and taking advantage of these dips at this price level," he said in his first interview, explaining that westerners often wait for positive price performance to buy gold. In the second discussion, he shared his three guidelines when buying bullion.

Keep reading...Show less
Quadro Resources

Quadro Announces Private Placement

Quadro Resources Ltd. (“Quadro” or the “Company”) (TSXV: QRO, OTC Pink: QDROD, FRA: G4O2) is pleased to announce that, subject to regulatory approval, it will conduct a non-brokered private placement of up to 10,000,000 units (the “Units”), each Unit priced at $0.05 and consisting of 1 common share of the Company and 1 common share purchase warrant (the “Unit Warrants”), each Unit Warrant being exercisable for an additional common share of the Company at $0.10 for 12 months from closing, and up to 8,333,333 flow-through units (the “FT Units”), each FT Unit priced at $0.06 and consisting of 1 flow-through share and one half common share purchase warrant (the “FT Unit Warrants”), each full FT Unit Warrant being exercisable at $0.12 for a common share of the Company for 12 months, to raise proceeds of up to a total of $1,000,000.

Keep reading...Show less
Quadro Resources

Quadro Shares Results From Its Optioned Staghorn Property

Quadro Resources Ltd. (“Quadro” or the “Company”) (TSXV: QRO, OTC Pink: QDROD, FRA: G4O2) is pleased to announce high grade gold results from recent work completed by TRU Precious Metals Corp. (“TRU”) on TRU’s recently optioned Staghorn property in Central Newfoundland. This work was completed within the Staghorn option along the Mark’s Pond Shear zone and within the Rich House Mineral occurrence further to the Northeast.

This zone was first identified in 2018 by Quadro technical staff during the execution of a short trenching program. Follow up work including diamond drilling was then able to confirm the presence of a broad, extensive shear zone with multiple parallel high strain gold bearing structures which remains open to the North and along strike to the Northeast and the Southwest.

Keep reading...Show less

Tempus Announces Non-Brokered Private Placement Of Up To C$1.0 M

Tempus Resources Ltd. (ASX: TMR) (TSXV: TMRR) (OTCQB: TMRFF) ("Tempus" or the "Company") is pleased to announce a non-brokered private placement (the "Offering") for gross proceeds of up to C$1,000,000 (approximately A$1,111,000) from the sale of up to 16,666,667 flow-through units of the Company (each, a "FT Unit") at a price of C$0.06 (approximately A$0.067) per FT Unit. Each FT Unit will consist of one common share of the Company to be issued as a "flow-through share" within the meaning of the Income Tax Act (Canada) (each, a "FT Share") and one common share purchase warrant (each, a "Warrant"). Each Warrant will entitle the holder thereof to purchase one common share of the Company (each, a "Warrant Share") at a price of C$0.09 (approximately A$0.10) for a period of 24 months following the issue date of the FT Unit. Red Cloud Securities Inc. will be acting as a finder in connection with the Offering.

News Provided by Newsfile via QuoteMedia

[subscribe_company_profile use_post="101618410"]

Keep reading...Show less
Peruvian Metals

Peruvian Metals to Extend Warrants

Peruvian Metals Corp. (TSXV: PER) (OTCQB: DUVNF) (the "Company") announces that the Company intends to amend the terms of 2,334,000 outstanding warrants of the Company (the "Warrants") that are set to expire December 15, 2022.

The Company has made an application to the TSX Venture Exchange (the "TSXV") to extend the expiry date for all of the Warrants to March 31, 2023. All other terms of the Warrants will remain the same.

Keep reading...Show less

Latest Press Releases

Related News

×