AlphaNorth Asset Management

July 08, 2011 17:08 ET

AlphaNorth Asset Management: News Release

TORONTO, ONTARIO--(Marketwire - July 8, 2011) - AlphaNorth 2011 Flow-Through Limited Partnership ("AlphaNorth") announces it has acquired beneficial ownership of 3,133,333 common shares and 1,566,666 common share purchase warrants of Anconia Resources Corp. ("Anconia") in connection with the completion of a private placement offering of flow-through units ("Units") at a price of $0.30 per Unit. Each Unit is comprised of one common share issued as a "flow-through share" and one-half of one common share purchase warrant. As a result of the acquisition, AlphaNorth is the beneficial owner of an aggregate of 3,133,333 common shares and 1,566,666 common share purchase warrants of Anconia, representing approximately 14.4% of the issued and outstanding common shares of Anconia (assuming exercise of all the common share purchase warrants beneficially owned by AlphaNorth. AlphaNorth relied on the "accredited investor" exemption from the prospectus requirement in connection with the acquisition contained in section 2.3 of National Instrument 45-106 Prospectus and Registration Exemptions.

The common shares of Anconia are listed on the TSX Venture Exchange and trade under the trading symbol "ARA". AlphaNorth acquired beneficial ownership of the securities for investment purposes. Depending on market and other conditions, AlphaNorth may in the future increase or decrease its investment in Anconia.

An Early Warning Report respecting this acquisition will be filed on the System for Electronic Document Analysis and Review ("SEDAR") under Anconia's profile and can be viewed at www.sedar.com.

The issuance of this news release is not an admission that an entity named in the report owns or controls any described securities or is a joint actor with another named entity.

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 news release.

Contact Information

  • AlphaNorth Asset Management
    Steven Palmer
    416.506.0797