Alexandra Closes Second Tranche of Non-Brokered Financing

Alexandra Capital Corp. has closed the second and final tranche of its previously announced non-brokered private placement and issued an aggregate of 2,035,550 units at a price of 40 cents per unit for gross proceeds of $814,220. Together with the first tranche, which closed on April 25, 2018, the company raised aggregate gross proceeds of $2,604,220.

Each unit consists of one common share and one-half of one share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share at a price of 60 cents for one year from closing.

Finder’s fees of cash in an amount equal to 6 per cent of proceeds and finder’s warrants equal to 6 per cent of the number of units issued were paid to four finders. Each finder’s warrant will be exercisable to acquire one common share for a period of one year from closing of the offering at a price of 40 cents.

All securities issued with respect to the offering are subject to a four-month hold period expiring Sept. 18, 2018.

The proceeds of the private placement will be used primarily for working capital.

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