VANCOUVER, British Columbia, Sept. 19, 2014 (GLOBE NEWSWIRE) -- ALPHA EXPLORATION INC. (" Alpha " or the " Company ") (TSX-V: AEX ) is pleased to announce a non-brokered private placement comprised of up to 2,777,777 flow-through units (" FT Unit ") at a price of $0.18 per FT Unit for aggregate gross proceeds of up to $500,000 (the " Offering "). Each FT Unit will consist of one flow-through common share and one-half of one warrant (each whole warrant, a " Warrant "), entitling the holder to purchase one non-flow-through common share at $0.25 per share at any time until the close of business on the day which is 18 months from the date of issue of the Warrant.
The Company intends to use the proceeds from the sale of the FT Units to fund exploration expenditures on its Kelic Lake and Hook Lake properties. It is anticipated that certain directors, officers, employees and consultants of the Company will participate in the Offering for proceeds of approximately $200,000.
Closing of the Offering is anticipated to occur on or before October 10, 2014, and is subject to receipt of acceptance by the TSX Venture Exchange (the "TSX-V "). Finder's fees may be payable in appropriate circumstances in connection with the Offering, in accordance with the policies of the TSX-V.
About Alpha Exploration Inc.
Alpha is a junior mineral exploration company focused on uranium in the Athabasca Basin in northern Saskatchewan, Canada. Its common shares are listed on the TSX Venture Exchange under the symbol "AEX". The Company actively explores a portfolio of early-stage properties, and continually and proactively reviews opportunities for new properties, whether by staking, joint venture or acquisition.
Additional information about Alpha is available on Alpha's website at www.alpha-aex.com or under its profile on SEDAR at www.sedar.com .
On behalf of the Board of Directors of Alpha Exploration Inc.
"Michael Gunning"
Interim CEO and Chairman
| For corporate communications please contact: |
| Robert (Bob) Meister |
| Alpha Exploration Inc. |
| Trading Symbol: TSX-V – AEX |
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.
