Alexandria Minerals Corporation

Alexandria Minerals Corporation

December 17, 2009 14:11 ET

Alexandria Announces $500,000 Non-Brokered Private Placement

TORONTO, ONTARIO--(Marketwire - Dec. 17, 2009) -


Alexandria Minerals Corporation (TSX VENTURE:AZX)(FRANKFURT:A9D) announces a Non Brokered Private Placement (NBPP) for up to 3,571,428 flow through (FT) units at a price of $0.14 per unit, resulting in gross proceeds of up to $500,000.

The proceeds from the private placement will be used to fund exploration activities, primarily diamond drilling on gold exploration targets on its Akasaba property in Val d'Or, Quebec. The Akasaba property is part of the extensive, 35 km long Cadillac Break property group, where the Company is advancing 3 gold deposits, the Orenada, Akasaba, and Sleepy deposits.

Each FT unit will be comprised of one FT common share of the Company and one-half (1/2) of one warrant, with each whole warrant entitling the holder to acquire one additional non-flow through common share of the Company at a price of $0.20 for a period of 18 months from closing.

The closing of the private placement is expected to occur on or about December 22nd, 2009, and is subject to the receipt of all the required regulatory approvals, including the approval of the TSX Venture Exchange. All securities issued pursuant to the offering shall be subject to a hold period of four months from the date of closing. A finders fee of up to 7% cash and up to 7% warrants of the gross proceeds raised may be paid by the Corporation in connection with this offering, in accordance with the policies of the TSX Venture Exchange.

Alexandria Minerals Corp. is a Toronto–based mineral exploration and development company, currently focused on the exploration for precious metals on mineral properties located in Northern Ontario and Quebec. The Company's management has extensive global experience with small to large mining companies, from grass-roots exploration to the exploitation of mineral deposits. The Company is a reporting issuer in the provinces of British Columbia, Alberta and Ontario.

This press release, required by applicable Canadian laws, is not for distribution to U.S. news services or for dissemination in the United States, and does not constitute an offer of the securities described herein. These securities have not been registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States or to U.S. persons unless registered or exempt therefrom.

WARNING: The Company relies upon litigation protection for "forward-looking" statements. This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of up-coming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forwardlooking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Alexandria Minerals Corporation relies upon litigation protection for forward-looking statements.

Neither 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.

Contact Information

  • Alexandria Minerals Corporation
    Andreas Curkovic
    Investor Relations
    (416) 577-9927
    Alexandria Minerals Corporation
    Eric Owens
    (416) 363-9372
    Alexandria Minerals Corporation
    Matt Morrish
    (416) 363-9372