May 31, 2019
ALX Uranium Corp. Closes Fully-Subscribed $1.525 Million Private Placement
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BC, Canada, May 31, 2019
Uranium Corp. (“ALX” or the “Company”)
(TSXV: AL; FSE: 6LLN; OTC: ALXEF) is
pleased to announce the closing on May 31, 2019 of a
fully-subscribed, non-brokered private placement consisting of
units (the “NFT Units”) and
13,500,000 flow-through units (“FT Units”) of the Company for
gross proceeds of $1,525,000
Units were sold at a price of $0.055 per NFT Unit, consisting of one
common share and one common share purchase warrant. The
Units were sold at a price of $0.06 per FT Unit consisting of one
flow-through common share and one non flow-through common share
purchase warrant. One
common share purchase warrant from either the NFT Units or the FT
Units will entitle the holder to purchase one non flow-through common
share of the Company at a price of $0.10 for a period expiring 24
months following the closing date of the Offering.
fees consisting of a total of $89,801 cash and 1,560,780 finder’s
warrants (finder’s warrants are exercisable at a price of $0.06 for
one common share of the Company for a period of two years from
closing) were paid to: Dundee Goodman Merchant Partners - $86,903
cash and 1,512,480 finder’s warrants; PI Financial Corp. - $1,080
cash and 18,000 finder’s warrants; Raymond James Ltd. - $1,080 cash
and 18,000 finder’s warrants; Haywood Securities Inc. - $432 cash
and 7,200 finder’s warrants; Leede Jones Gable Inc. - $306 and
5,100 finder’s warrants.
the securities issued in the Offering are subject to a hold period of
four months plus one day from the closing date.
proceeds from the sale of FT Units will be used for exploration
programs on the Company’s Saskatchewan uranium properties, and the
proceeds from the sale of NFT Units will be used for general working
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
available 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 strong potential
for economic base metals deposits. 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 at
for several of the Company’s active properties.
more information about the Company, please visit the ALX corporate
or contact Roger Leschuk, Manager, Corporate Communications at
PH: 604.629.0293 or Toll-Free: 866.629.8368,
Behalf of the Board of Directors of ALX Uranium Corp.
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.
risk factors are discussed in the Company’s Management Discussion and
Analysis for the Three Months ended March 31, 2019, which is
available under Company’s SEDAR profile at
Except as required by law, we will not update these forward looking
statement risk factors.
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.
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