Alpha Completes $3,000,000 Private Placement
Vancouver, British Columbia--(Newsfile Corp. - December 30, 2013) - Alpha Exploration Inc. (TSXV: AEX), (the "Company" or "Alpha"), is pleased to announce that it has completed a non-brokered private placement and issued: (i) 5,833,333 Flow-Through Units (a "FT Unit") consisting of one flow-through common share and one-half of one share purchase warrant (a "Warrant") at a price of $0.30 per FT Unit; and (ii) 6,250,000 Non-Flow-Through Units (a "Unit") consisting of one common share and one Warrant at a price of $0.20 per Unit. Each whole Warrant will entitle the holder to purchase one common share at $0.35 per share at any time until the close of business on the day which is 24 months from the date of issue of the Warrant. Accordingly, the Company has issued a total of 12,083,333 common shares and 9,166,667 Warrants in return for gross proceeds of $3,000,000 (the "Offering").
The Company intends to use the proceeds from the Offering to fund exploration expenditures on its portfolio of mineral properties and for general working capital. The Company paid $96,068 as finders fees in connection with the Offering.
About Alpha Exploration Inc.
Alpha Exploration Inc. is a mineral exploration company whose principal focus is the exploration and development of mineral properties in Ontario, British Columbia and the Athabasca Basin in northern Saskatchewan, Canada. The common shares of the Company are listed on the TSX-V under the symbol "AEX".
On behalf of the Board of Directors of Alpha Exploration Inc.
President and CEO
For corporate communications please contact:
Robert (Bob) Meister
Phone: (604) 629-0293
Toll Free: 1-866-629-0293
Please refer to the Alpha Exploration Inc. website for further and updated information.
Neither 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.
Forward Looking Statements: The above contains forward looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry. Forward-looking statements in this release include statements regarding future exploration programs, operation plans, geological interpretations, mineral tenure issues and mineral recovery processes. Although we believe the expectations reflected in our forward looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements.