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ALX Uranium Corp. (“ALX” or the “Company) (TSXV: AL; FSE: 6LLN; OTC: ALXEF) announced today a non-brokered private placement (the “Offering”) of up to 10,000,000 flow-through units (“FT Units”) at $0.10 per FT Unit for gross proceeds of up to $1,000,000.
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 is exercisable into one common share of the Company for a period of 36 months from closing at a price of $0.125 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 Offering is subject to acceptance by the TSX Venture Exchange (the “TSXV”).
The proceeds received from the FT Units will be used by the Company to incur qualified Canadian Exploration Expenses for exploration of the Company’s uranium projects in the Athabasca Basin, Saskatchewan, Canada.
ALX’s mandate is to provide shareholders with multiple opportunities for discovery and value creation by building and 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 exploration technologies, and has interests in over 100,000 hectares in Saskatchewan’s Athabasca Basin. ALX is based in Vancouver, BC, Canada and its common shares are listed on the TSXV under the symbol “AL”, on the Frankfurt Stock Exchange under the symbol “6LLN” and in the United States OTC 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, Vice President, Corporate Development 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.
Warren Stanyer, Director and Chairman
FORWARD LOOKING STATEMENTS
Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. It is important to note that the Company’s actual business outcomes and exploration results could differ materially from those in such forward-looking statements. Risks and uncertainties include economic, competitive, governmental, environmental and technological factors that may affect the Company’s operations, markets, products and prices. Additional risk factors are discussed in the section entitled “Risk Factors” in the Company’s Management Discussion and Analysis for the Three Months ended March 31, 2017, which is available under Company’s SEDAR profile at www.sedar.com.
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.