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Alpha Exploration (TSXV:AEX) announced it has completed the first tranche of a non-brokered private placement, issuing more than 2.9 million stocks for a proceed of $533,300. The company plans to use the proceeds to fund exploration expenditures on several properties in the Athabasca basin.
According to the press release:
Each whole Warrant will entitle the holder to purchase one 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. Accordingly, the Company has issued a total of 2,962,777 common shares and 1,481,387 Warrants in return for gross proceeds of $533,300.
The Company intends to use the proceeds from the Offering to fund exploration expenditures on its portfolio of mineral properties in the Athabasca Basin in northern Saskatchewan. The Company paid $16,567 as finder’s fees in connection with the Offering.
Click here to read the Alpha Exploration Inc. (TSXV:AEX) press release
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