On April 13, 2017, Alexandria Minerals Corporation (TSXV: AZX) (OTCQB: ALXDF) (FSE: A9D) announced that it had completed its previously announced non-brokered equity private placement in the company for gross proceeds of $2,575,000. Pursuant to the terms of the financing, Alexandria Minerals issued 42,916,666 units, each unit consisting of one common share of the company and one common share purchase warrant.
Alexandria Minerals also announced that Eric Sprott, through 2176423 Ontario Ltd., a corporation which is beneficially owned by him, made a $2 million strategic investment as part of the financing.
Alexandria Minerals is a Toronto-based junior gold exploration and development company with strategic properties located in the world-class mining districts of Val d’Or, Quebec, Red Lake, Ontario and Snow Lake-Flin Flon, Manitoba.
Kevin Sorochan of Miller Thomson advised Alexandria Minerals in this transaction.