ALX Uranium closes $503,231 first tranche of financing

Dec 18, 2019

2019-12-17 16:05 ET – News Release

Mr. Warren Stanyer reports

ALX URANIUM CORP. CLOSES FIRST TRANCHE OF FLOW-THROUGH PRIVATE PLACEMENT

On Dec. 17, 2019, ALX Uranium Corp. closed the first tranche of a non-brokered private placement, consisting of 10,064,623 flow-through units of the company for gross proceeds of $503,231.

The FT Units were sold at a price of $0.05 per FT Unit consisting of one flow-through common share and one non flow-through common share purchase warrant. One common share purchase warrant will entitle the holder to purchase one non flow-through common share of the Company at a price of $0.08 for a period expiring 36 months following the closing date of the Offering.

All the securities issued in the Offering are subject to a hold period of four months plus one day from the closing date. The proceeds from the sale of FT Units will be used for exploration programs on the Company’s Saskatchewan and Ontario mineral properties.

About ALX

ALX’s mandate is to provide shareholders with multiple opportunities for discovery by exploring a portfolio of prospective mineral properties in northern Saskatchewan, Canada, a superior mining jurisdiction. The Company executes well-designed exploration programs using the latest technologies and has interests in over 200,000 hectares in Saskatchewan, a Province which hosts the richest uranium deposits in the world, a producing gold mine, and demonstrates potential for economic base metals deposits. ALX has recently acquired the Falcon and Flying Vee Nickel projects in northern Saskatchewan, the Vixen Gold Project in the historic Red Lake Mining District of Ontario, Canada, and the Draco VMS Project in Norway.

We seek Safe Harbor.

https://www.alxuranium.com/