VANCOUVER, British Columbia, March 7, 2014 (GLOBE NEWSWIRE) -- Alliance Mining Corp. (TSX:ALM) is pleased to announce that it has arranged a non-brokered private placement of up to 6,000,000 units at a price of $0.05 per unit in the capital stock for total gross proceeds of up to $300,000. Each unit will consist of one common share and one half share purchase warrant. Each full share purchase warrant will entitle the holder thereof to purchase one additional share of the Company at a price of $0.05 per share for a period of eighteen months from the closing date of the private placement. Closing of this placement is conditional upon approval of the TSX Venture Exchange. The term of the Warrants may be accelerated in the event that the Issuer's shares trade at or above a price of $0.15 per share for a period of 10 consecutive trading days. In such case, the Issuer may give notice, in writing and by way of news release, to the Subscribers that the Warrants will expire 10 days from the date of providing such notice.
Alliance mining has been focused on acquiring and delineating highly prospective Gold and Silver mineral properties in Arizona's most prolific gold producing area - Yavapai County located in central Arizona. Over the past decade the company has built up an extensive inventory of geologically significant properties, most of whom have experienced gold and silver production in the past century. The company plans to take these properties to the next stage of exploration and development using modern techniques unavailable to earlier miners.
ON BEHALF OF THE BOARD
Mr. Chris Anderson, CEO - Director
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 the accuracy of this news release.
Certain of the statements made and information contained herein constitutes "forward-looking information" within the meaning of the Securities Act (British Columbia. This includes statements concerning the Company's plans at its mineral properties, which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information is subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, the availability of financing for activities, risks and uncertainties relating to the interpretation of drill results and the estimation of mineral resources and reserves, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development or mining results will not be consistent with the Company's expectations, metal price fluctuations, environmental and regulatory requirements, availability of permits, escalating costs of remediation and mitigation, risk of title loss, the effects of accidents, equipment breakdowns, labour disputes or other unanticipated difficulties with or interruptions in exploration or development, the potential for delays in exploration or development activities, the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, expectations and beliefs of management and other risks and uncertainties. In addition, forward-looking information is based on various assumptions. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.
FOR FURTHER INFORMATION PLEASE CONTACT: Alliance Mining Corp. Chris Anderson (604) 628-6645