Alpha Exploration Inc. Moves Forward as Plan of Arrangement Between Alpha Minerals Inc. and Fission Uranium Corp. Closes
Vancouver, British Columbia--(Newsfile Corp. - December 9, 2013) - ALPHA EXPLORATION INC. (TSXV: AEX) ("AEX" or the "Company") is pleased to report the closing on December 6, 2013 of the plan of arrangement (the "Arrangement") between Alpha Minerals Inc. ("Alpha") and Fission Uranium Corp. ("Fission"), as previously described in various Alpha news releases. Former shareholders of Alpha shall receive: (i) 5.725 common shares of Fission; and (ii) $0.00001 for each Alpha share. All Alpha shares are now owned by Fission, and the Alpha shares have been de-listed from trading on the TSX Venture Exchange ("TSX-V"). Warren Stanyer and Kurt Bordian have been appointed to the board of Fission, as Alpha's nominees under the Arrangement.
Pursuant to the Arrangement all Alpha shareholders of record on December 5, 2013, have been issued, for each Alpha share held as of the record date, one-half of one common share of AEX (an "AEX Share"). Listing of the AEX Shares on TSX-V under the symbol "AEX" has been conditionally accepted by TSX-V, and trading of the AEX Shares is expected to commence on December 12, 2013.
AEX has received the transfer of Alpha's assets, other than the Joint Venture interest in the Patterson Lake South property ("PLS"), and approximately $3,000,000 in cash. The directors and officers of AEX are: Benjamin Ainsworth, director, President and CEO; Michael Gunning, director and Chairman; James E. Yates, director; Warren Stanyer, director; Charles E. Roy, director; Kurt Bordian, CFO; and Garrett Ainsworth, VP Exploration. Alan Graham, a former director of Alpha, shall serve as a key advisor to the AEX board. The AEX management team will use its broad base of exploration experience to focus exploration efforts on its portfolio of mineral properties located in Ontario (Mikwam, 100%), Saskatchewan (Hook Lake, Cluff Lake) and British Columbia (Donna, 100%). The team will also be actively seeking new opportunities that may be available by staking, acquisition or Joint Venture.
Additional information regarding AEX can be found in the TSX-V Listing Application and a technical report on the Mikwam property, which shall be available shortly under the AEX profile at www.sedar.com.
On behalf of the Board of Directors of Alpha Exploration Inc.
President, CEO and Director
For corporate communications please contact:
Robert (Bob) Meister
Phone: (604) 629-0293
Neither 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.
Forward Looking Statements: Statements contained in this news release that are not historical facts are forward-looking statements, which are subject to a number of known and unknown risks, uncertainness and other factors that may cause the actual results to differ materially from those anticipated in our forward looking statements. Although we believe that the expectations in our forward looking statements are reasonable, actual results may vary, and we cannot guarantee future results, levels of activity, performance or achievements.