alx asx

ALX Resources Corp. Increases Private Placement Financing to $1.2 Million

Not for Distribution to U.S. Newswire Services or for Release, Publication, Distribution or Dissemination Directly, or Indirectly, in Whole or in Part, in or into the United States

ALX Resources Corp. (TSXV: AL) (FSE: 6LLN) (OTC: ALXEF) ("ALX" or the "Company") is pleased to announce that due to increased demand, its non-brokered private placement announced on June 1, 2021 of flow-through units (the "FT Units") and non-flow-through units (the "NFT Units") will be increased for gross proceeds of up to $1,200,000 (the "Offering"). The Offering will be available to accredited investors and to existing shareholders of the Company resident in Canada.

Up to 2,000,000 FT Units will be now offered at a price of $0.10 per FT Unit consisting of one flow-through common share and one non flow-through common share purchase warrant, and up to 12,500,000 NFT Units will be offered at a price of $0.08 per NFT Unit consisting of one common share and one common share purchase warrant. One common share purchase warrant from the FT Units will entitle the holder to purchase one non flow-through common share of the Company at a price of $0.15 for a period expiring 24 months following the closing date of the Offering. One common share purchase warrant from the NFT Units will entitle the holder to purchase one non flow-through common share of the Company at a price of $0.12 for a period expiring 24 months following the closing date of the Offering.

Exemption for Existing Shareholders

The Offering is available to existing shareholders of the Company who, as of the close of business on the record date of May 31, 2021, held common shares of the Company (and who continue to hold such common shares as of the closing date), pursuant to the prospectus exemption set out in BC Instrument 45-534 - Exemption From Prospectus Requirement for Certain Trades to Existing Security Holders (the "Existing Shareholder Exemption"). The Existing Shareholder Exemption limits a shareholder to a maximum investment of CAD$15,000 in a 12-month period unless the shareholder has obtained advice regarding the suitability of the investment and, if the shareholder is resident in a jurisdiction of Canada, that advice has been obtained from a person that is registered as an investment dealer in the jurisdiction. If the Company receives subscriptions from investors relying upon the Existing Shareholder Exemption exceeding the maximum amount of the Offering, the Company intends to adjust the subscriptions received on a pro-rata basis. Existing shareholders who wish to participate in the Offering should contact the Company at the contact information set forth below.

Finder's fees may be payable in connection with the Offering. All the securities issuable will be subject to a four-month hold period from the date of closing, which is expected to occur on or about June 21, 2021. Proceeds from the sale of FT Units will be used for exploration programs on the Company's Saskatchewan gold and uranium properties, and on its Ontario nickel, copper and gold properties. Proceeds from the sale of NFT Units will be used for general working capital.

About ALX

ALX is based in Vancouver, BC, Canada and its common shares are listed on the TSX Venture Exchange under the symbol "AL", on the Frankfurt Stock Exchange under the symbol "6LLN" and in the United States OTC market under the symbol "ALXEF". ALX's mandate is to provide shareholders with multiple opportunities for discovery by exploring a portfolio of prospective mineral properties, which include gold, nickel, copper, and uranium projects. The Company uses the latest exploration technologies and holds interests in over 200,000 hectares of prospective lands in Saskatchewan and Ontario, stable Canadian jurisdictions that collectively host the highest-grade uranium mines in the world, and offer a significant legacy of production from gold and base metals mines.

ALX owns 100% interests in the Firebird Nickel Project (now under option to Rio Tinto Exploration Canada, who can earn up to an 80% interest), the Flying Vee Nickel/Gold and Sceptre Gold projects, and can earn up to an 80% interest in the Alligator Lake Gold Project, all located in northern Saskatchewan, Canada. ALX owns, or can earn, up to 100% interests in the Vixen Gold Project, the Electra Nickel Project and the Cannon Copper Project located in historic mining districts of Ontario, Canada, and in the Draco VMS Project in Norway. ALX holds interests in a number of uranium exploration properties in northern Saskatchewan, including a 20% interest in the Hook-Carter Uranium Project, located within the prolific Patterson Lake Corridor, with Denison Mines Corp. (80% interest) operating exploration since 2016, a 40% interest in the Black Lake Uranium Project, a joint venture with UEX Corporation and Orano Canada Inc., and a 100% interest in the Gibbons Creek Uranium Project.

For more information about the Company, please visit the ALX corporate website at www.alxresources.com or contact Roger Leschuk, Manager, Corporate Communications at, PH: 604.629.0293 or Toll-Free: 866.629.8368, or by email: rleschuk@alxresources.com

On Behalf of the Board of Directors of ALX Resources Corp.

"Warren Stanyer"

Warren Stanyer, CEO and Chairman

FORWARD LOOKING STATEMENTS

Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. It is important to note that the Company's actual business outcomes and exploration results could differ materially from those in such forward-looking statements. Risks and uncertainties include economic, competitive, governmental, public health, environmental and technological factors that may affect the Company's operations, markets, products and share price. Additional risk factors are discussed in the Company's Management Discussion and Analysis for the Three Months Ended March 31, 2021, which is available under Company's SEDAR profile at www.sedar.com. Except as required by law, we will not update these forward-looking statement risk factors.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/86928

News Provided by Newsfile via QuoteMedia

The Conversation (0)
"Tariff" highlighted in pink.

Editor's Picks: Gold Hits Another New High, Then Takes Tariff Turmoil Blow

The gold price surged this week, rising to yet another new all-time high of more than US$3,160 per ounce ahead of tariff updates from US President Donald Trump.

The yellow metal's latest move follows a strong Q1, during which it continually hit new records amid widespread uncertainty and achieved its best quarterly performance since 1986.

However, Trump's Wednesday (April 2) tariff announcement took some of the wind out of gold's sails. While it showed resilience on Thursday (April 3), rebounding back above US$3,100 after falling below that level, the yellow metal lost substantial ground on Friday (April 4), sinking to just above US$3,020.

Keep reading...Show less
Gold nuggets on a scale with US$100 bills underneath.

Jim Thorne: US$5,000 Gold by 2028? "Crazy Phase" Still to Come

Jim Thorne, chief market strategist at Wellington-Altus, discusses which assets investors should focus on in today's tumultuous environment.

He sees promise in gold and silver, as well as Bitcoin and the artificial intelligence sector.

Keep reading...Show less

Abcourt Closes Initial Tranche Non-Brokered Private Placement for Gross Proceeds of $1,668,040

NOT   FOR   DISTRIBUTION   TO   U.S.   NEWS   WIRE   SERVICES   OR   DISSEMINATION   IN   THE   UNITED   STATES.

Abcourt Mines Inc. (" Abcourt " or the " Corporation ") (TSX Venture: ABI) (OTCQB: ABMBF) is pleased to announce that it has closed a first tranche of its previously announced non-brokered private, for gross proceeds of $1,668,040 (the " Offering ") from the sale of the following:

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Walker Lane Resources Ltd. Provides Further Clarification on Its Recent Press Release of April 3,2025

Walker Lane Resources Ltd. Provides Further Clarification on Its Recent Press Release of April 3,2025

Walker Lane Resources Ltd. (TSX-V: WLR, "Walker Lane") is at the request of CIRO Walker Lane wishes to retract certain information in its press release dated April 3, 2025 entitled "Walker Lane Resources Ltd. Notes Unusual Trading Activity and the Development of its new Website ("the news release").

In this regard, we provide clarification regarding certain statements and/or related actions:

Keep reading...Show less
Walker Lane Resources Ltd. Notes Unusual Trading Activity and the Development of its New Website

Walker Lane Resources Ltd. Notes Unusual Trading Activity and the Development of its New Website

Walker Lane Resources Ltd. (TSX-V: WLR, “Walker Lane”) announces that there has been unusual trading activity of its common shares that appeared to initiate on March 27, 2025 and appears to have occurred on each subsequent TSX-V trading day to current day. The recent stock trading activity does not reflect the health of our business or the recent significant value added assets to the property portfolio and adds to the previous undervaluation of the assets that were noted in a research report completed by Fundamental Research Corporation (see CMC Metals Ltd. press release - January 15, 2025). Management considers that some recent market transactions of its common shares could be an organized type of short selling tactic as we cannot determine any other explanation for the unusual downside trading activity.

Keep reading...Show less
Walker Lane Resources Ltd. Notes Unusual Trading Activity and the Development of its New Website

Walker Lane Resources Ltd. Notes Unusual Trading Activity and the Development of its New Website

Walker Lane Resources Ltd. (TSX-V: WLR, "Walker Lane") announces that there has been unusual trading activity of its common shares that appeared to initiate on March 27, 2025 and appears to have occurred on each subsequent TSX-V trading day to current day. The recent stock trading activity does not reflect the health of our business or the recent significant value added assets to the property portfolio and adds to the previous undervaluation of the assets that were noted in a research report completed by Fundamental Research Corporation (see CMC Metals Ltd. press release - January 15, 2025). Management considers that some recent market transactions of its common shares could be an organized type of short selling tactic as we cannot determine any other explanation for the unusual downside trading activity.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×