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Alpha Exploration (TSXV:AEX) announced that it has completed the final tranche of a non-brokered private placement, issuing 1.69 million flow-through units. In total, the company has issued 4,652,777 common shares and 2,326,387 to raise proceeds of $837,500. The proceeds are intended to fund exploration expenditures on properties in the Athabasca Basin.
According to the press release:
[Alpha] issued 1,690,000 Flow-Through Units (a “FT Unit”) consisting of one flow-through common share and one-half of one share purchase warrant (a “Warrant”) at a price of $0.18 per FT Unit. 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 4,652,777 common shares and 2,326,387 Warrants in return for gross proceeds of $837,500 (the “Offering”).
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 $15,012 as finder’s fees in connection with the closing of this tranche of the Offering.
Click here to read the Alpha Exploration Inc. (TSXV:AEX) press release
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