Alexandria Minerals Corporation

Alexandria Minerals Corporation

July 09, 2008 15:19 ET

Alexandria Increases Non-Brokered Private Placement to $1,750,000

TORONTO, ONTARIO--(Marketwire - July 9, 2008) -


Alexandria Minerals Corporation (TSX VENTURE:AZX)(FRANKFURT:A9D) announces that it will increase the size of its Non Brokered Private Placement (NBPP) from $1,000,000, as announced in a press release on June 20, 2008, to $1,750,000, and will include both non-Flow Through (NFT) and flow through (FT) units.

Gross proceeds for the FT portion of the financing is now at $1,500,000. Each FT unit is priced at $0.13, which was reduced from an initial $0.15 as announced on June 20, and 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 (NFT) common share of the Company at a price of $0.25 for a period of two years from closing.

Gross proceeds for the NFT portion of the financing will be $250,000. Each NFT unit is priced at $0.10, and will be comprised of one NFT common share and one whole warrant entitling the holder to purchase one NFT common share of the Company at a price of $0.23 for 2 years from the date of closing.

The closing of the private placement is expected to occur on or about July 25, 2008, and is subject to the receipt of all the required regulatory approvals, including the approval of the TSX Venture Exchange. All the 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 8% of the gross proceeds raised may be paid by the Corporation in connection with this offering, in either cash or securities.

The greater portion of the proceeds of will be aimed at exploration on the Company's properties in Quebec, with a minor portion earmarked for its Matachewan, Ontario, property, as well as for corporate purposes. Specifically, the Company has delineated drilling targets on its Cadillac Break properties in Val d'Or, on its Joannes Township claims 18 km east of Noranda, and on its Matachewan, Ontario property. Alexandria also plans to conduct offset drilling below and along strike of its Orenada property, which is open on all sides, where the Company has significantly enlarged the near-surface gold deposit over the past 15 months.

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. Forward-looking 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.

The TSX Venture Exchange has not reviewed and does not take responsibility for the adequacy or accuracy of this release.

Contact Information

  • Coal Harbor Communications
    Dale Paruk
    (604) 662-4505 or Toll Free: 1-877-642-6200
    (604) 662-4547 (FAX)
    Alexandria Minerals Corporation
    Mr. Eric Owens
    (416) 363-9372