ALX Resources Corp. Announces up to $4.0 Million Equity Facility with Alumina Partners
ALX Resources Corp. (TSXV: AL) (FSE: 6LLN) (OTC: ALXEF) ( ALX or the Company ) is pleased to announce that it has entered into a financing facility (the Facility ) for up to CDN$4.0 million with Alumina Partners (Ontario) Ltd. ( Alumina ), an affiliate of New York-based private equity firm Alumina Partners LLC.
The investment agreement provides ALX with a financing facility over a period of 24 months, during which the Company can draw down equity private placement tranches of up to CDN$250,000. Each tranche will be composed of units with each unit consisting of one common share of the Company (each, a Common Share ) and one Common Share purchase warrant, at discounts between 15 and 25 percent of the closing price of the Common Shares on the day prior to ALX s drawdown notice to Alumina. The exercise price of the warrants will be at a 25 per cent premium over market at the time of the issua
ALX Resources Corp. Initiates Exploration Review of the Cannon Copper Project, Ontario
ALX Resources Corp. (TSXV: AL) (FSE: 6LLN) (OTC: ALXEF) ( ALX or the Company ) is pleased to announce that it has initiated an exploration review on its 100%-owned Cannon Copper Project ( Cannon Copper , or the Project ) located in Kamichisitit Township within the Sault Ste. Marie Mining District of Ontario, Canada. Cannon Copper hosts the historic Cannon Copper Mine and Mill (also known as the Crownbridge Copper Mine), which saw limited copper processing in the late 1960s and early 1970s.
ALX maintained 100% ownership since 2015 of thirteen claim units at Cannon Copper totaling 289 hectares (714 acres) following the amalgamation of Alpha Exploration Inc. and Lakeland Resources Ltd. In October 2020 and again in January 2021, the Company staked an additional 59 units and expanded the size of the Project to 72 cell units totaling 1,600 hectares (3,954 acres).
ALX Resources Corp. Signs Definitive Agreement for Electra Nickel Project in Ontario
ALX Resources Corp. (TSXV: AL) (FSE: 6LLN) (OTC: ALXEF) ( ALX or the Company ) is pleased to announce that it has executed a definitive agreement for an option to purchase a 100% interest in the Electra Nickel Project ( Electra , or the Project ) located in Shebandowan Greenstone Belt within the Thunder Bay South Mining District of Ontario, Canada. Electra, formerly known as the Bateman Lake property, is prospective for nickel, copper and cobalt ( Ni-Cu-Co ), platinum group elements ( PGEs ) and gold mineralization. In November 2020, during its period of due diligence on Electra, ALX staked additional claims and expanded the size of the Project by approximately 42% to 148 cell units totaling 3,168 hectares (7,828 acres).
ALX Resources Corp. Announces Application to Amend Warrant Terms
ALX Resources Corp. announces that it has made an application to the TSX Venture Exchange to amend the term of an aggregate of 2,410,000 outstanding share purchase warrants, which were issued in connection with a non-brokered private placement . On December 30, 2016, the Company issued 2,410,000 Warrants.In December 2018, the Company extended the term of the Warrants for an additional 24 months, to December 30, …
ALX Resources Corp. (TSXV: AL) (FSE: 6LLN) (OTC: ALXEF) (“ALX” or the “Company”) announces that it has made an application to the TSX Venture Exchange (the “TSXV”) to amend the term of an aggregate of 2,410,000 outstanding share purchase warrants, (the “Warrants”) which were issued in connection with a non-brokered private placement (see ALX news release dated December 21, 2016). On December 30, 2016, the Company issued 2,410,000 Warrants.