- ALX Resources Corp. (AL) has closed the first tranche of a non-brokered private placement for gross proceeds of $890,000
- The private placement consisted of 17,800,000 flow-through units of the company
- ALX sold the FT units at $0.05 per FT unit, consisting of one flow-through common share and one-half of one non-flow-through common share purchase warrant
- ALX intends to use the proceeds from the sale of FT Units for exploration programs on its critical minerals properties in Quebec, Saskatchewan, Ontario and Nova Scotia
- ALX Resources Corp is focused on the acquisition and development of uranium, energy and gold properties
- ALX Resources Corp. opened trading at $0.04 per share
ALX Resources Corp. (AL) has closed the first tranche of its non-brokered private placement for gross proceeds of $890,000.
The previously-announced private placement consisted of 17,800,000 flow-through units of the company.
ALX sold the FT units at a price of $0.05 per FT unit, consisting of one flow-through common share and one-half of one non-flow-through common share purchase warrant.
One whole common share purchase warrant from the FT units entitles the holder to purchase one non-flow-through common share of the company at a price of $0.075 for a period expiring 36 months following the closing of the first tranche.
All securities issued in the first tranche will be subject to a statutory hold period expiring March 4, 2023, in accordance with applicable securities regulations.
ALX intends to use the proceeds from the sale of FT Units for exploration programs on its critical minerals properties in Quebec, Saskatchewan, Ontario and Nova Scotia.
The company anticipates the closing of the second and final tranche of the non-brokered private placement to occur on or about November 15, 2022.
ALX Resources Corp. owns interests in a diverse portfolio of mineral properties and explores for nickel-copper-cobalt, uranium, and gold in Canada and VMS in Scandinavia.
ALX Resources Corp. opened trading at $0.04 per share.
