TORONTO, ONTARIO–(Marketwire – Jan. 5, 2012) – ALEXIS MINERALS CORPORATION (TSX:AMC)(OTCQX:AXSMF) (“Alexis” or the “Company”) announces currently that it has finished a overpass financing with Resource Income Fund, L.P. (“RIF”).
The overpass financing provides Alexis with sum deduction of $10,000,000 to go on its operations until such time as long tenure financing is finalized. As good as appropriation working capital, the overpass loan will be used to pay back an excellent $2.1 million automobile debenture. Upon shutting of the tenure loan, expected to happen in the initial half of 2012, the overpass financing will be repaid and closed. The overpass loan bears fascination at an annual commission rate of 15% and shall be repaid upon the progressing of the shutting of the tenure loan or Aug 31, 2012. An upfront price of 3% was paid to RIF upon shutting of the facility.
In conjunction with the financing, RIF has been postulated 4,000,000 warrants labelled at $0.047 per share that represents a 5% reward to the 10-day VWAP of AMC’s familiar equity. RIF has in addition been postulated a call choice on 7,000 oz of bullion struck at US$1,900/oz.
Francois Perron, President and CEO commented: “The shutting of the debt financing is to Snow Lake Project will be an critical miracle and you expect it will be finalized inside of the next couple of months. During this time, the Snow Lake plan group will go on to hope for and serve improver our plans. The Company motionless a debt financing was elite at this time so not to serve intermix our shareholders, however this sort of financing is receiving longer to full than originally anticipated. The overpass loan will help the Company obtain by the arriving months until the debt financing is in place.”
The Lac Herbin Mine continues to run its turnaround plan, but the Company anticipates that the fourth entertain of 2011 will see the cave turn working money upsurge positive. The overpass financing treat will not start Alexis’ Quebec operations.
The Company would moreover similar to to publicize the appointment of Christine Gallo as Corporate Secretary of the Company. Ms. Gallo is a corporate bonds counsel who functions as a authorised expert to a few publicly traded companies in the mining industry. Ms. Gallo’s appointment follows the handing over of Pat Gleeson, who will go on as a expert to the Company. Alexis would similar to to appreciate Mr. Gleeson for his continuing contributions.
Qualified Persons and Quality Control
The technical and systematic calm of this press let go has been reviewed by Jean Girard, P. Eng, Exploration Manager, Alexis Minerals worker and Qualified Person as tangible beneath NI 43-101 guidelines.
About Alexis Minerals
Alexis Minerals Corporation is a Canadian publicly traded mining firm concentrating on scrutiny and cave development. The Company is listed on the Toronto Stock Exchange (“TSX”) beneath the pitch “AMC”, and trades in the United States on the Over the Counter QX International (“OTCQX”) stage beneath the pitch “AXSMF”. Alexis Minerals is a energetic and assertive mining firm working in Canada’s richest mining regions: Val-d’Or Rouyn-Noranda, Quebec, and Snow Lake, Manitoba. Alexis continues prolongation and scrutiny in the vegetable abounding Val-d’Or area with skill casing over 1,000 km2. The Company moreover continues work on its newest skill at the Snow Lake Mining Camp. Alexis is right away in its third full year as a subordinate gold-producing firm and bullion prolongation is a priority as the firm targets mid-tier bullion prolongation levels.
Forward-looking information:
This press let go contains “forward-looking information” inside of the meaning of germane Canadian bonds legislation. Forward-looking data includes, but is not paltry to, statements with apply oneself to the finishing of the overpass loan facility, the securing of a debt financing is to Snow Lake project, the functional money upsurge at Lac Herbin and the future financial or working opening of Alexis and its projects, and the timing and amount of future scrutiny and growth of the property. Generally, forward-looking data may be identified by the use of forward-looking vernacular such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such difference and phrases or state that established actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward seeking data is theme to well known and different risks, uncertainties and other factors that may result in the real results, level of activity, opening or achievements of the Company to be materially different from those voiced or pragmatic by such forward-looking information, inclusive but not paltry to those risks described in the annual data form of the Company, that is existing beneath the form of the Company on SEDAR. Although the Company has attempted to pick out critical factors that could result in real results to deviate materially from those contained in forward-looking information, there may be other factors that result in results not to be as anticipated, estimated or intended. There may be no self-confidence that such data will infer to be accurate, as real results and future events could deviate materially from those expected in such statements. Accordingly, readers should not place unjustified dependence on forward-looking information. The Company does not commence to refurbish any forward-looking information, solely in conformity with germane bonds laws.
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