MINERALS CORPORATION
65 QUEEN STREET WEST, SUITE 815
TORONTO, ONTARIO,
M5H 2M5
For Immediate
Release?????????????????????????????????????????????????????????????????????
?????????? ??????????? ???Press Release
??????????????????????????????????????????????????
ALEXIS MINERALS CLOSES $11.7 MILLION
UNDERWRITTEN
PRIVATE PLACEMENT
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES AND
DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN
Toronto, Ontario, March 20,
2008 – Alexis Minerals Corporation [TSX: AMC] (the
“Company”) is pleased to announce that it has closed its
previously announced $11.7 million private placement financing.? In connection with the financing, the Company
has issued 16,714,286 million units at a price of $0.70 per unit.? Each unit consisted of one common share of
the Company and one-half of one share purchase warrant. Each whole warrant is exercisable
for one common share at a price of $1.00 per warrant exercised, at any time
prior to 5:00 p.m. EST on March 17, 2010.?
The Company shall have the right, commencing 365
days after closing of the financing, to call the
outstanding warrants for expiry upon 30 days notice should the common shares
have a volume weighted average trading price of at or above $1.50 for 20
consecutive trading days.
Cormark Securities Inc. acted as lead
underwriter on the financing, with a syndicate comprised of Canaccord
Adams and CIBC World Markets Inc.
The net proceeds of the offering will be
for continued exploration and development of the Lac Herbin and Lac Pelletier Deposits, acquisitions and for
general working capital purposes.
The securities described herein have not
been registered under the U.S. Securities Act of 1933, as amended, and may not
be offered or sold in the United
States unless registered under the Act or
unless an exemption from registration is available.
About
Alexis Minerals
Alexis
Minerals Corporation is a Canadian exploration and development company listed
on the Toronto
Stock Exchange. Alexis holds an outstanding portfolio of properties covering
the Val-d’Or and Rouyn-Noranda Mining Camps in Quebec. Alexis owns the 1400
tonne per day Aurbel gold mill and holds a
100%-interest in the Aurbel property. Alexis will
vest into a 100% ownership of all remaining?
interests of Aur Resources on approximately
212 square kilometres of the Val-d’Or Mining Camp in early 2008. Alexis
also has the right to earn-in into a 100% interest in the Lac Pelletier gold
property in Rouyn-Noranda.? The Company has earned a 50% interest in
approximately 786 square kilometres of the Rouyn-Noranda
Mining Camp and has entered into a joint venture with Xstrata Copper. Alexis is
following strategic exploration approaches across these properties for both
gold and base metals, with a focus on the potential for gold production from
the 100%-owned Lac Herbin and Lac Pelletier deposits
during 2008. Currently there are four underground drills active at Lac Herbin, one surface drill active in Val-d’Or and one
surface drill active in Rouyn-Noranda.?????
?
For Further Information Contact:
David
Rigg, President and CEO ??????????? ???????????????????????
Tel:
416-861-5889?????????????????????????????????????????????????????????
Fax:
416-861-8165
Bruce
Barch, Manager Investor Relations?????????? Louis
Baribeau, Relationniste, Qu?bec
Tel.
416-861-5905???????????????????????????????????????????? Tel: 514-667-2304
???????????????????????????????????????????????
Email: info@alexisminerals.com??? ???????????????? Website: www.alexisminerals.com
Forward‑looking
Information
Statements in
this release that are not historical facts are "forward-looking
information" within the meaning of applicable securities law.
Forward-looking information typically contain words such as
“anticipate”, “plan”, “expect”,
“potential”, or similar words suggesting future outcomes and
include, without limitation, statements regarding the completion of the
financing, proposed use of proceeds, and the Company’s operational plans,
including production estimates. There can be no assurance that such
information will prove to be accurate; actual results and future events could
differ materially from such information. Factors that could cause actual
results to differ materially include, among others, commodity prices, third
party risks, risks inherent in the mining industry, financing risks, regulatory
risks and environmental concerns. Investors are cautioned not to place undue
reliance on forward-looking information.
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