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Alset Energy Corp.,(TSXV:ION) subject to the approval of the TSX Venture Exchange, proposes to undertake a non-brokered private placement of units at a price of 13 cents per unit for gross proceeds of up to $520,000. Each unit shall comprise one common share in the capital of the company and one common share purchase warrant. …
Alset Energy Corp.,(TSXV:ION) subject to the approval of the TSX Venture Exchange, proposes to undertake a non-brokered private placement of units at a price of 13 cents per unit for gross proceeds of up to $520,000. Each unit shall comprise one common share in the capital of the company and one common share purchase warrant.
Each warrant shall entitle the holder to purchase one common share at a price of 20 cents per share at any time within 12 months of the date of issuance. All securities to be issued under this private placement will be subject to a four-month resale restriction. If, subsequent to the four-month required hold period, the Company’s closing share price is $0.30 or greater for ten consecutive days the Company may accelerate the warrant exercise term by giving the warrant holders 30 days’ notice.
The company intends to close the private placement immediately following the satisfaction of customary closing conditions, including receipt of all regulatory approvals. Alset will use the net proceeds of this private placement for general working capital purposes and to advance its Lithium projects in Mexico.
A finder’s and/or administrative fee may be paid to registered representatives in connection with the offering.
The Company held its Annual Meeting on Thursday March 23, 2017. All matters presented to our shareholders were unanimously approved including the reappointment of Allan Laboucan, Gennen McDowall, William Harper, John Harper, and Emily Hanson to the board of directors (the “Board”) and the addition of Brian Robertson to the Board.
Brian Robertson is President and CEO of Source Exploration Corp, advancing the Las Minas project in Veracruz State, Mexico. He has over 40 years of experience in corporate management, direction of exploration programs, project management, mine permitting, mine construction and development as well as mine operations and the evaluations of corporate acquisitions. During his 21 year career with Placer Dome, he operated open pit and underground mines in Canada and was Area Manager for the South Deep mine, South Africa. He served as President of Victory Nickel and Nuinsco Resources and is currently a director of Romios Gold Resources Ltd., Appia Energy Corp. and Minnova Corp. Over the last seven years, Mr. Robertson has directed exploration activities in Mexico and has development a number of business relationships with people involved with the Mexican mining industry. He is a graduate Mining Engineer from the University of Alaska, with a Graduate Diploma in Business Administration from Laurentian University and a member of Professional Engineers of Ontario.
About Alset Energy (ION.V)
Alset Energy is a TSX-V listed junior exploration company focused on exploring and acquiring mineral properties containing the metals needed by today’s high-tech industries. The Company is actively exploring in Mexico and Canada.
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