alx asx

ALX Resources Corp. Increases Private Placement Financing to $1.8 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. ("ALX" or the "Company") (TSXV: AL) (FSE: 6LLN) (OTC: ALXEF) is pleased to announce that due to increased demand, its non-brokered private placement announced on June 1, 2021 and on June 8, 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 $1,800,000 (the "Offering"). The Offering will be available to accredited investors and to existing shareholders of the Company resident in Canada.

Up to 4,000,000 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 17,500,000 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 VeeNickel/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/87112

News Provided by Newsfile via QuoteMedia

ALX Resources

ALX Resources Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
ALX Resources

ALX Resources


Keep reading...Show less
Alderan Resources Limited

Alderan Receives Approval to Commence Drilling at New Years Copper-Gold Prospect Utah, USA

Alderan Resources Limited (ASX: AL8) (Alderan or the Company) is very pleased to announce that approval has been received from Utah’s Department of Oil, Gas and Mines (DOGM) to commence drilling at the New Years copper prospect in the Cactus district of the Frisco copper-gold project. The approval allows Alderan to drill three Stage 1 holes while archaeological investigations are carried out on Stage 2 drill sites which have not undergone prior archaeological review. Alderan will now liaise with the drilling company which is on standby for the programme on rig availability ahead of confirming a start date which is expected to be in August.

Keep reading...Show less
Many Peaks Minerals

June 2024 Quarterly Report

Many Peaks Minerals Limited (ASX:MPK) (Many Peaks or the Company) is pleased to provide the Quarterly Activities Report for the period ending 30 June 2024.

Keep reading...Show less
Horizon Minerals Limited

Board Approves Development of Boorara

Horizon Minerals Limited (ASX: HRZ) (“Horizon” or the “Company”) is pleased to announce that its Board has approved the Final Investment Decision for the development of the Boorara Gold Project.

Keep reading...Show less
"Quarterly results" written on stock board.

Newmont Reports Strong Q2 Financials Despite Production Challenges

Newmont (TSX:NGT,NYSE:NEM) has reported strong financial gains in its Q2 2024 results despite operational challenges affecting gold production.

The US-based mining company produced 1.6 million attributable gold ounces and 477,000 gold equivalent ounces from copper, silver, lead and zinc. Its gold production was down 4 percent from the previous quarter due to operational suspensions at Cerro Negro and Telfer.

Despite these setbacks, the company saw positive gains across the board.

Financially, Newmont generated US$1.4 billion in consolidated net cash from operating activities, an 80 percent increase from the previous quarter, and reported free cash flow of US$594 million in free cash flow. The company also reported an adjusted net income of US$834 million, translating to US$0.72 per share.

Keep reading...Show less
Nasdaq Stock Exchange building entry in New York.

Nova Minerals Completes NASDAQ IPO, Secures Growth Capital

Gold and critical minerals exploration company Nova Minerals (ASX:NVA,NASDAQ:NVA,NASDAQ:NVAWW) announced the closing of its underwritten NASDAQ initial public offering (IPO) of 475,000 units on July 26.

“A US listing has been our goal for a long time as the logical next step with our flagship Estelle Gold Project being a North American asset and an increasing US investor base,” Nova Minerals CEO Christopher Gerteisen said. “Now it’s a reality, and we believe this can be a catalyst to create further shareholder value through increased exposure and liquidity available in the US market.”

Each unit, priced at US$6.92, consists of one American Depositary Share (ADS) representing ordinary shares and one warrant. Each whole warrant is exercisable at US$7.266 per ADS for five years, and the ratio of ADS-to-ordinary-share is one to sixty (1:60).

The pricing was first announced on July 24, the same day that the ASDs and warrants began trading on the Nasdaq Capital Market under the symbols NVA and NVAWW respectively.

Keep reading...Show less
ALX Resources

ALX Resources Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×