TORONTO, July 23 /CNW/ - Alexandria Minerals Corporation ("Alexandria" or the "Company") announced today that it has engaged Pollitt & Co. Inc. of Toronto ("Pollitt") to provide market-making services. During the past year, Alexandria has seen increased trading volumes and greater investor interest. The Company believes that having a designated market maker will benefit shareholders by helping to maintain an efficient market for its shares.
TSX Venture Exchange policy describes market-making activities as follows: "Proper market-making activity corrects temporary imbalances in the supply of and demand for an issuer's securities. The market should be allowed to rise and fall naturally, with the market-making activity operating primarily to smooth out these imbalances and facilitate an orderly market. Although a person involved in market-making is not expected to ignore his or her economic self-interest or be precluded from also holding securities for investment purposes, he or she should normally be selling into a rising market and buying into a falling market. If the price stabilizes and there are sufficient buyers and sellers on both sides of the market, market-making activities should generally not occur at a level which materially affects the market."
Pollitt is acting as Lead Agent for the Company's current financing (the "Financing") announced on July 5th, 2010. Pollitt presently does not own common shares in the Company. Upon completion of the Financing, Pollitt will receive agent's warrants to acquire common shares and a cash commission. The market-making activities, for which no fees are being paid, will continue for a period of 12 months.
About Pollitt & Co. Inc.
Pollitt is an employee-owned brokerage firm that serves both institutional and private clients. The firm was founded in 1984 upon the same focus on equities that are in place today. Pollitt is a member of the Investment Industry Regulatory Organization of Canada (IIROC), Investment Industry Association of Canada (IIAC) and trades under broker number 92. Pollitt is a participating member of the Toronto Stock Exchange (TSX), TSX Venture Exchange (TSXV), and the Canadian Investor Protection Fund (CIPF).
About Alexandria Minerals Corporation
Alexandria Minerals Corporation is a Toronto-based junior gold exploration and development company with one of the largest property packages along the prolific, gold-producing Cadillac Break in Val d'Or, Quebec. The Company is currently focused on advancing two of its gold projects, Akasaba, where it has two drill rigs operating, and Orenada, with a National Instrument 43-101-compliant gold deposit. Agnico-Eagle Mines Ltd., with three gold mines along the same geologic trend, owns 9.9% of the Company.
WARNING: This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of up-coming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. 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.
SOURCE Alexandria Minerals Corporation
For further information: For further information: Andreas Curkovic, Investor Relations, (416) 577-9927; Eric Owens, Alexandria Minerals Corporation, 416-363-9372, www.azx.ca, email@example.com