TORONTO, Jan. 18, 2019 (GLOBE NEWSWIRE) -- Alexandria Minerals Corporation (TSX-V:AZX) (OTCQB:ALXDF) (Frankfurt:A9D) (“AZX” or the “Company”) announced today that it has entered into agreements with a third-party contractors to settle an aggregate of $507,113.78 of debt in consideration for the issuance of 9,220,251 common shares of the Company at a deemed price of $0.055 per common share. The directors of the Company have approved the debt settlements. The debt settlements are subject to receipt of all required regulatory approvals including the approval of the TSX Venture Exchange. Closing of the debt settlements will occur immediately following approval from the TSX Venture Exchange.
All securities issued pursuant to the above-referenced debt settlements will be subject to a statutory hold period which will expire four months and one day from the date of closing of the debt settlements.
Further information about the Company is also available on the Company’s website, www.azx.ca, or our social media sites listed below:
About Alexandria Minerals Corporation
Alexandria Minerals Corporation is a Toronto-based junior gold exploration and development company with its strategic property located in the world-class mining district of Val d’Or, Quebec. Alexandria’s focus is on its flagship property, the large Cadillac Break Property package in Val d’Or, which hosts important, near-surface, gold resources along the prolific, gold-producing Cadillac Break, all of which have significant growth potential.
WARNING: This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of up-coming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Alexandria Minerals Corporation relies upon litigation protection for forward-looking statements. 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.
Acting President & CEO