TORONTO, ONTARIO–(Marketwired – Feb. 5, 2016) – Alexandria Minerals Corporation (TSX VENTURE:AZX)(FRANKFURT:A9D)(OTC PINK:ALXDF) (“Alexandria” or the “Company”) announces that it has received approval from the TSX Venture Exchange (the “Exchange”) for the Company’s intention to make a normal course issuer bid (the “Issuer Bid”). Under the terms of the Issuer Bid, the Company may acquire or repurchase for cancellation up to 13,404,967 issued common shares of the Company (the “Common Shares”) representing approximately 5% of the Company’s issued and outstanding common shares and approximately 5.05% of the Company’s estimated Public Float.
Eric Owens, the Company’s President and CEO, stated, “We believe that Alexandria’s shares have been trading in a price range which does not adequately reflect their value in relation to our asset position and future business prospects. Given our successes and growth rate of gold resources over the past few years, Alexandria represents an attractive investment.”
At the option of the Company, the purchase for cancellation of its shares commence on February 11, 2016, and end on February 10, 2017, or such earlier time as the Issuer Bid is completed or terminated at the option of the Company. Such purchases will be made by Integral Wealth Securities Limited on behalf of Alexandria in open market transactions on the TSX-V or other recognized marketplaces at the prevailing market price.
Further information about the Company is 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 gold exploration and development company with important gold resources on one of the largest properties along the prolific, gold-producing Cadillac Break in Val d’Or, Quebec, and now with a significant presence in the Snow Lake-Flin Flon gold-base metal mining district of Manitoba and the world-class Red Lake gold district, Ontario. The Company’s properties are located in mining districts hosting large, world-class mineral deposits and important mining infrastructure.
WARNING: This News Release may contain forward-looking statements including but not limited to comments regarding the Company’s Issuer Bid, the purchase and cancellation of common shares under the Issuer Bid, the future business prospects of the Company, the attractiveness of the Company’s shares as an investment and the stabilization of the Company’s market price. 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.