CALGARY, Canada, September 15 /PRNewswire/ -- Alhambra Resources Ltd. (TSX-V:ALH) ("Alhambra") announces that it is undertaking a non-brokered private placement of units for aggregate estimated proceeds of CAD$5,000,000. The offering price will be CAD$1.50 per unit and each unit will be comprised of one common share of Alhambra and one-half of a common share purchase warrant. Each whole warrant will be exercisable for one common share of Alhambra for one year from closing at an exercise price of CAD$2.00 per share. The securities will be subject to hold periods in accordance with TSX Venture Exchange policies and applicable securities laws.
Completion of the financing is subject to satisfaction of usual requirements, including completion of documentation and regulatory approval, including approval of the TSX Venture Exchange.
About Alhambra
Alhambra is a Canadian based gold exploration and production corporation engaged in the exploration of and production from its 100% owned Uzboy Project. Alhambra is currently in its sixth year of operations in the Republic of Kazakhstan.
Alhambra common shares trade on The TSX Venture Exchange under the symbol ALH and in Germany on the Frankfurt Open Market under the symbol A4Y. The Corporation's website can be accessed at http://www.alhambraresources.com.
The TSX Venture Exchange Inc. has neither approved nor disapproved the information contained herein.
This news release contains forward - looking information. Forward - looking information includes disclosure regarding possible future events, conditions or results of operations that is based on assumptions and courses of action, and therefore, involves inherent risks and uncertainties. For any forward looking information given, management has assumed that the analytical results it has received are reliable and the metallurgical testing methodologies applied are consistent with industry standards. Although management has a reasonable basis for the conclusions drawn, actual results may differ materially from those currently anticipated in such statements. For such statements, we claim the safe harbor for future.
