Skip to content

ALX Resources Corp. Finalizes Private Placement of Flow-Through Units

ALX Resources Corp. (TSXV: AL) has successfully closed the third and final tranche of its non-brokered private placement, issuing 1,143,286 flow-through units (FT Units) for gross proceeds of $40,015, marking the end of the placement which raised a total of $493,015.

Details of the Flow-Through Private Placement

The units, priced at $0.035 each, comprise one flow-through common share and one common share purchase warrant. Each warrant allows the holder to purchase a common share at $0.05 until December 29, 2025. Notably, no finder’s fees were paid in connection with the third tranche.

Use of Proceeds for Exploration

The raised funds are designated for exploration programs on the company’s mineral properties across Quebec, Saskatchewan, Ontario, and Nova Scotia, specifical focus being on critical minerals exploration.

Insider Participation and Regulatory Compliance

A company insider subscribed for 286,000 Units in the transaction, which is in compliance with applicable regulations and Multilateral Instrument 61-101. The securities issued are subject to resale restrictions until April 30, 2024.

About ALX Resources Corp.

With headquarters in Vancouver, BC, the company holds a substantial portfolio of mineral properties in Canada. Its projects cater to diverse minerals such as uranium, lithium, nickel, copper, cobalt, and gold. ALX maintains a strategic presence in Saskatchewan’s high-grade uranium regions and has multiple interests in lithium ventures, including the Hydra Lithium Project and Anchor Lithium Project. The company also boasts 100% ownership of various uranium, gold, and base metals projects and is involved in several joint ventures.

The content presented on this page has not been manually verified by our team. While we strive to ensure accuracy, we cannot guarantee the validity, completeness, or timeliness of the information provided. Always consult with appropriate professionals or sources before making any decisions based on this content.

The image is randomly selected and doesn’t necessarily represent the company or the news below.

Click here for more Company News