VANCOUVER, BC / ACCESSWIRE / September 9, 2022 / Alliance Mining Corp. (TSXV:ALM) ("Alliance" or the "Company") announces that is has arranged a non-brokered private placement of 4 million units at a price of $0.12 per unit for gross proceeds of $480,000. The units of the financing will comprise of one common share and a full share purchase warrant, which may be exercised for a period of 18 months at a price of $0.165 per share. The term of the warrants may be accelerated in the event that the issuer's shares trade at or above a price of $0.20 per share for a period of 10 consecutive days. In such case of accelerated warrants, the issuer may give notice, in writing or by way of news release, to the subscribers that the warrants will expire 20 days from the date of providing such notice
The proceeds of the private placement will be used for general working capital and exploration work at the Company's Red Rice Lake property located in the centre of the Bissett gold camp in Manitoba.
A finder's fee may be paid to eligible finders in accordance with the TSX-V policies. All securities issued pursuant to the offering will be subject to a hold period of four months and one day from the date of closing. The offerings and payment of finders' fees are both subject to approval by the TSX-V
ON BEHALF OF THE BOARD
Chris Anderson
Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Alliance Mining Corp.
(604) 488-3900
Investor Relations:
604-488-3900
E-mail: Office@alliancemining.com
Forward-Looking Statement Cautions: This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation. Although the Company believes that such statements are reasonable based on current circumstances, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts, and by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties, including the possibility the Company may not be successful in its legal action to enforce the performance of the Option Agreement.
There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law or the policies of the TSX Venture Exchange. Readers are encouraged to review the Company's complete public disclosure record on SEDAR at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
SOURCE: Alliance Mining Corp.
View source version on accesswire.com:
https://www.accesswire.com/715446/Alliance-Mining-Announces-Financing
