Alpha Minerals Inc.

TSX VENTURE : AMW


Alpha Minerals Inc.

April 09, 2013 08:26 ET

Alpha Minerals Inc. Announces Bought Deal Private Placement of Flow-Through Shares and Non Flow-Through Units

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 9, 2013) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN

Alpha Minerals Inc. ("Alpha Minerals" or the "Company") (TSX VENTURE:AMW) is pleased to announce that it has entered into an agreement with Salman Partners Inc., Cormark Securities Inc. and Raymond James Ltd. (collectively the "Underwriters") pursuant to which the Underwriters have agreed to underwrite the offer and sale of 1,200,000 flow through shares ("FT Shares") and 500,000 non flow-through units ("NFT Units") of Alpha Minerals (the "Offering") on a private placement basis. The FT Shares shall be offered at $4.40 per share for total proceeds of $5,280,000. The NFT Units shall be offered at $4.00 per unit for total proceeds of $2,000,000. Each NFT Unit consists of one common share and one-half of one share purchase warrant, where each whole warrant entitles the holder to purchase one common share at a price of $5.00 per share for a period of 24 months. The Underwriters will receive a commission equal to 5% of the gross proceeds of the Offering and broker warrants entitling them to purchase that number of common shares equal to 3% of the Flow-Through Shares and Non Flow-Through units sold under the Offering. Each broker warrant is exercisable into one common share of Alpha Minerals at the price of $4.40 for a period of 24 months of Closing. All securities issued in connection with the Offering will be subject to a four-month hold period under applicable Canadian securities laws.

The closing of the Offering is expected to occur on or before April 25, 2013 and is subject to the completion of formal documentation and receipt of regulatory approval, including the approval of the TSXV.

The proceeds from the FT Shares of the financing will be used to incur eligible Canadian Exploration Expenses, as defined under the Income Tax Act (Canada), that will be renounced in favour of the purchasers with an effective date of no later than December 31, 2013. The funds are intended to be used in upcoming work programs to explore and advance Alpha's Joint Venture Patterson Lake South Property ("PLS") in the South West Athabasca Region of Saskatchewan, and for general working purposes.

Patterson Lake South Property

Patterson Lake South Property

The 31,000 hectare (76,000 acres) PLS project is a 50%/50% Joint Venture held by Alpha Minerals Inc (AMW) and Fission Energy (FIS). The Joint Venture property is 100% owned with no underlying royalties or vendor payments. Fission is the Operator until April 1st 2014. The property is accessible by road with primary access from all-weather Highway 955, which runs north to the former Cluff Lake mine, (>60M lbs of U3O8 produced), and passes through the nearby UEX-Areva Shea Creek discoveries located 50km to the north, currently under active exploration and development.

On behalf of the Board of Directors of Alpha Minerals Inc.

Ben Ainsworth, President and CEO

Please refer to the Alpha Minerals Inc. website (www.alphaminerals.ca) for further and updated information.

Forward Looking Statements: The above contains forward looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry. Forward-looking statements in this release include statements regarding future exploration programs, operation plans, geological interpretations, mineral tenure issues, mineral recovery processes and completion of the Offering and the expected use of proceeds of the Offering. Although we believe the expectations reflected in our forward looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements.

Neither the 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.

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