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ALX Uranium Corp. (“ALX” or the “Company) (TSXV: AL; FSE: 6LLN; OTC: ALXEF) announced today a non-brokered private placement of up to 3,000,000 flow-through units (“FT Units”) at $0.10 per FT Unit for gross proceeds of up to $300,000.
Each FT Unit consists of one flow-through common share and one non flow-through common share purchase warrant in the capital of the Company. Each common share purchase warrant (a “Warrant”) is exercisable into one common share of the Company for a period of 24 months from closing at a price of $0.15 per common share.
Finders fees may be payable in connection with this private placement. All the securities issuable will be subject to a four-month hold period from the date of closing. The proceeds received from the FT Units will be used by ALX to incur qualified Canadian Exploration Expenses for exploration of the Company’s uranium projects in the Athabasca Basin of Saskatchewan, Canada.
About ALX Uranium Corp.
ALX’s mandate is to provide shareholders with multiple opportunities for discovery and value creation by optimizing a portfolio of prospective uranium exploration properties through staking, joint ventures, acquisitions and divestitures. The Company executes well-designed exploration programs using the latest technologies and has interests in over 180,000 hectares in Saskatchewan’s Athabasca Basin. ALX is based in Vancouver, BC, Canada and its common shares are listed on the TSX Venture Exchange under the symbol “AL”, on the Frankfurt Stock Exchange under the symbol “6LLN” and in the United States OTC market under the symbol “ALXEF”. Technical reports are available on SEDAR (www.sedar.com) for several of the Company’s active properties.
For more information about the Company, please visit the ALX corporate website at www.alxuranium.com or contact Roger Leschuk, Manager, Corporate Communications at Ph: 604.629.0293 or Toll-Free: 1.866.629.8368, or by email: firstname.lastname@example.org
On Behalf of the Board of Directors of ALX Uranium Corp.
Chairman and Chief Executive Officer
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.