ALX Uranium Enters Strategic Partnership with Holystone Energy

March 8, 2016

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ALX Uranium Corp. (TSXV:AL,OTCQX:ALXEF) announced that it’s entered into an agreement with Holystone Energy Company Ltd. regarding a three-year strategic partnership.

As quoted in the press release:

This partnership will be the foundation for ALX to pursue a three year exploration strategy in the Athabasca Basin based on its current portfolio of properties, including its position in the Patterson Lake South district. It will also be the foundation to pursue new opportunities.

Under the terms of the agreement, Holystone will:

  • subscribe to 12,500,000 common shares of ALX for a price of $0.06 per share for gross proceeds of $750,000. No Warrants.
  • be granted by the Company the right for three years from closing of the private placement to participate in future financings for the next three years to maintain their pro-rata ownership interest in ALX.
  • Appoint one representative to the Board of Directors of ALX, based on its intent to form a strategic funding partnership with ALX going forward.

Click here to read the full ALX Uranium Corp. (TSXV:AL,OTCQX:ALXEF) press release.

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Category: Energy