Alexandria Minerals Corporation

Alexandria Minerals Corporation

February 25, 2015 09:30 ET

Murgor Securityholders Approve Acquisition By Alexandria

TORONTO, ONTARIO--(Marketwired - Feb. 25, 2015) - Alexandria Minerals Corporation (TSX VENTURE:AZX)(FRANKFURT:A9D)(OTC PINK:ALXDF) ("Alexandria") is pleased to report that the securityholders of Murgor Resources Inc. (TSX VENTURE:MGR) ("Murgor") voted yesterday at a Special Securityholders meeting held in Montreal, in favour of the acquisition of Murgor by Alexandria, a transaction previously announced on December 23, 2014.

Pursuant to the terms of the arrangement agreement (the "Arrangement Agreement"), Alexandria will acquire all of the outstanding common shares of Murgor (the "Murgor Shares") by way of a plan of arrangement under the Canada Business Corporations Act (the "Arrangement"). With shareholder approval, the transaction is to now be approved by the Superior Court of Québec, expected on February 25, 2015. The effective date of the Arrangement is expected to be March 10, 2015.

Eric Owens, President and CEO of Alexandria Minerals Corp., stated, "We are excited about the possibilities this transaction brings to Alexandria and to the shareholders of both companies, including the purchase price, effectively at $3.50 per ounce of gold equivalent, the significant increase in mineral resources under one roof, and near term growth potential of those resources."

One of the early goals with the newly acquired assets will be an updated resource estimate, compliant with National Instrument 43-101, for both the Hudvam and WIM Cu-Au-Zn-Ag deposits in northern Manitoba, as the resources estimated for those projects were last completed in 2008 at much lower metal prices.

The transaction is an all-share transaction, in which Alexandria will pay to Murgor shareholders 0.5 Alexandria share for each Murgor Share, representing a 50% premium over market price at the time of announcement. With more than 57 million shares voted, the transaction received 99.77% approval by Murgor securityholders at the meeting.

Summary of Transaction Benefits

  • Combination of the two companies each with significant mineral resources will lead to a substantial increase in mineral resources for the combined company
  • The increase in resources resulting from the combination will occur at a substantially lower cost than equivalent exploration
  • In addition to exploration properties in the well-known and prolific mining camps of Red Lake, Ontario, and Flin Flon- Snow Lake, Manitoba, larger combined strategic land packages will form in Matachewan, Ontario, Chibougamau, Québec and Val d'Or, Québec where both companies have land assets
  • Management with a successful track record of capitalizing exploration projects as demonstrated by Alexandria's discovery and sale of the West Zone Au-Cu deposit (Alexandria Press Release January 13, 2014)
  • Maintaining a Made-in-Canada approach, one of the world's safest and most reliable jurisdictions

Further information about the Company is available on the Company's website,, or our social media sites listed below:

Facebook: AZXTSXV/186115074772628




About Alexandria Minerals Corporation

Alexandria Minerals Corporation is a Toronto-based junior gold exploration and development company with one of the largest portfolio of properties along the prolific, gold-producing Cadillac Break in Val d'Or, Quebec. Its gold resources are distributed between three projects on its Cadillac Break Property package, at Akasaba, Sleepy, and Orenada, the details of which can be found on the Company's website at Agnico-Eagle Mines Ltd., with four producing gold mines in the region, owns roughly 8% of the Company.

WARNING: 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.

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.

Contact Information

  • Alexandria Minerals Corporation
    Eric Owens, PGeo

    Alexandria Minerals Corporation
    Mary Vorvis
    Vice-President Corporate Development & Investor Relations
    (416) 305-4999