Sign up USA
Proactive Investors - Run By Investors For Investors

Alexandria Minerals brings in $2.575mln; Eric Sprott invests

Proceeds will be used for exploration at Alexandria's flagship Orenada Zone 4 gold project in Quebec
Alexandria Minerals brings in $2.575mln; Eric Sprott invests
The firm is exploring the Orenada Zone 4 gold project

Alexandria Minerals Corporation (CVE: AZX, OTCQB: ALXDF) told investors it had closed  its previously placing and raised $2.575mln.

Resource sector investors Eric Sprott, via 2176423 Ontario Ltd, a company  beneficially owned by him, made a $2mln investment as part of this fundraise.

Proceeds will be used for exploration at Alexandria's flagship Orenada Zone 4 gold project in Val d'Or, Québec, as well as for general corporate purposes.

Recent high grade gold assays at Orenada Zone 4 have been very encouraging and the firm has been ramping up  drilling  there, it added.

The group issued over 42.9mln units at $0.06 each in the placing.

Each unit comprises one share and one share purchase warrant, which entitles the holder, on exercise, to acquire one share at $0.09 for two years following the closing.

Sprott, via 2176423 Ontario Ltd, acquired around 33.2mln units for around $1.999mln and now owns around 7% of the capital on a non-diluted basis and 13% on a partially diluted basis.

Giles_55af4ddca6481.jpg


Register here to be notified of future AZX Company articles
View full AZX profile

Alexandria Minerals Corp Timeline

Related Articles

Balmoral---APPROVED---exploration-camp-bug-lake.jpg
January 23 2017
Balmoral has delivered a string of attractive exploration results from its Martiniere gold project on the prolific Abitibi gold belt
Canadian flag
January 23 2017
This will be very easy to fast-track, because we’ve done all the work we need to move forward for the nickel lease
Gold-plus-dollars.jpg
January 25 2017
Asante Gold is working up its portfolio of Ghanaian properties
Copyright © Proactiveinvestors.com, 2017. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use