Alexis Minerals Corporation

Alexis Minerals Corporation

June 19, 2009 09:43 ET

Alexis Minerals Corporation Announces Terms of Equity Financing

TORONTO, ONTARIO--(Marketwire - June 19, 2009) -


ALEXIS MINERALS CORPORATION (TSX:AMC) ("Alexis" or the "Company") announced today that, in connection with its previously announced public offering, it has entered into an underwriting agreement with a syndicate of underwriters led by Cormark Securities Inc. and including CIBC World Markets Inc. (collectively, the "Underwriters") to sell 11,656,000 units ("Units") at a price of $0.50 per Unit and 7,450,000 "flow-through" common shares (the "Flow-Through Shares") at a price of $0.56 per Flow-Through Share for aggregate gross proceeds of $10,000,000 (the "Offering"). Each Unit is comprised of one common share of the Corporation and one-half of one common share purchase warrant, each whole warrant shall entitle the holder thereof to acquire one additional common share of the Corporation at a price of $0.70 until 5:00 p.m. (Toronto time) on that date which is 24 months following the closing of the Offering. The Units and Flow-Through Shares are being offered by way of a short form prospectus in the provinces of Alberta, British Columbia, Ontario and Quebec.

The Underwriters have also been granted an option to purchase up to 2,865,900 additional Units or up to 1,432,950 additional Warrants, exercisable at any time, in whole or in part, up to 30 days from the closing of the Offering (the "Over-Allotment Option"). The Underwriters can elect to exercise the Over-Allotment Option to purchase additional Units or additional Warrants only, or any combination thereof, so long as the aggregate number of securities which may be issued upon the exercise of the Over-Allotment Option does not exceed 15% of the securities distributed under the final prospectus. If the Over-Allotment Option is exercised in full for Units, the aggregate gross proceeds to Alexis will be $11,432,950.

The Offering is scheduled to close on or about July 9, 2009 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange.

The Company expects that the net proceeds of the Offering of the Units will be used for the refurbishment of the Aurbel gold mill, which is located one kilometer from Alexis' Lac Herbin mine, and for general corporate purposes and the gross proceeds of the Offering of the Flow-Through Shares will be used for exploration and development expenses that qualify for Canadian Exploration Expenses.

The Common Shares offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Common Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Alexis Minerals Corporation

Alexis Minerals Corporation is a Canadian mining company listed on the Toronto Stock Exchange (symbol "AMC"). The Company owns one producing gold mine in Val d'Or and the right to earn a 100% interest in the Lac Pelletier gold property in Rouyn-Noranda. Alexis undertakes exploration in the mineral rich Val d'Or (100% ownership of 212 sq. km.) and Rouyn-Noranda Mining Camps (50% ownership of 785 and in joint venture with Xstrata Copper). Further information about Alexis Minerals can be found at its website:

Forward looking information

This document may contain or refer to forward looking information within the meaning of applicable securities laws, based on current expectations, including, but not limited to, mineralization projections, future production estimates and cost of production projections, projected capital and operating expenditures future exploration plans and techniques, estimates regarding the timing and costs of exploration, mineral prices, and future mining plans. Forward looking statements are subject to significant risks and uncertainties, including those risks identified in the annual information form of the Company, which is available under the profile of the Company on SEDAR, and other factors that could cause actual results to differ materially from expected results. Estimates and assumptions underlying the future-looking information are based upon extensive technical and scientific analysis conducted by the management of the Company, the analysis of external consultants and information obtained by the Company from third parties. Readers should not place undue reliance on forward-looking information. Forward looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances.

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