Source: Alpha Exploration Ltd.
  • Alpha Exploration (ALEX) has closed the second tranche of its non-brokered private placement financing and raised gross proceeds of C$1,395,152.50
  • The company closed the first tranche on April 6, 2023, with gross proceeds of C$3,341,249.80. The gross total aggregate of both tranches was C$4,736,402.30
  • Net proceeds will be used to fund ongoing exploration work on the Kerkasha Project in Eritrea, where 20 prospects have been identified to date.
  • Alpha Exploration Ltd. (ALEX) opened trading at $0.78

Alpha Exploration (ALEX) has closed the second tranche of its non-brokered private placement financing.

In the second round, Alpha raised gross proceeds of C$1,395,152.50.

The company closed the first tranche on April 6, 2023, with gross proceeds of C$3,341,249.80. The gross total aggregate of both tranches was C$4,736,402.30.

Each Unit is comprised of one ordinary share and one ordinary share purchase warrant of the company. Each warrant will entitle the holder to acquire one additional share at C$1.05 per warrant share.

Net proceeds will be used to fund ongoing exploration work on the Kerkasha Project in Eritrea, where 20 prospects have been identified to date.

Alpha Exploration Ltd. is a Canadian exploration company focused on the discovery of gold and base metals deposits in the Arabian-Nubian shield on either side of the Red Sea.

Alpha Exploration Ltd. (ALEX) opened trading at $0.78.

The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.

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