Offering will fund exploration on Manitoba and Quebec properties
By Devika Patel
Knoxville, Tenn., Dec. 23 - Alexis Minerals Corp. said it settled the second and final tranche of a private placement of stock. The deal priced for C$10.08 million on Nov. 18, but the company raised C$11.44 million on Dec. 10 and an additional C$750,000 in the second tranche for a total of C$12.19 million.
The company sold 47.65 million flow-through common shares at C$0.24 per share in the first tranche and an additional 3,125,000 shares in the second for a total of 50,775,000 shares. The price per share represents a 33.33% premium to C$0.18, the Nov. 17 closing share price.
Industrial Alliance Securities Inc. and Secutor Capital Management Corp. were the agents.
Proceeds will be used for exploration on the company's Manitoba and Quebec properties.
Toronto-based Alexis is a mineral exploration company focused on gold and base metals.
| Issuer: | Alexis Minerals Corp.
|
| Issue: | Flow-through common shares
|
| Amount: | C$12,186,000
|
| Shares: | 50,775,000
|
| Price: | C$0.24
|
| Warrants: | No
|
| Agents: | Industrial Alliance Securities Inc., Secutor Capital Management Corp.
|
| Pricing date: | Nov. 18
|
| Upsized: | Dec. 10
|
| Settlement dates: | Dec. 10 (for C$11,436,000), Dec. 23 (for C$750,000)
|
| Stock symbol: | Toronto: AMC
|
| Stock price: | C$0.18 at close Nov. 17
|
| Market capitalization: | C$73.25 million
|
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