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ALpha Exploration (TSX:AEX) announced it is holding a non-brokered private placement for proceeds of up to $500,000. The money was raised by selling 2,777,777 flow-through units at a price of $0.18.
According to the press release:
Each FT Unit will consist of one flow-through common share and one-half of one warrant, entitling the holder to purchase one non-flow-through 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.
The Company intends to use the proceeds from the sale of the FT Units to fund exploration expenditures on its Kelic Lake and Hook Lake properties. It is anticipated that certain directors, officers, employees and consultants of the Company will participate in the Offering for proceeds of approximately $200,000.
Click here to read the Alpha Exploration Inc. (TSX:AEX) press release
Click here to see the Alpha Exploration Inc. (TSX:AEX) profile.
ALEX:CC