NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S.
NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES
VANCOUVER, Dec. 5, 2012 /CNW/ - Alpha Minerals Inc. (TSX-V: AMW), (the "Company" or "Alpha"), is pleased to announce that it has
completed a non-brokered private placement and issued 2,666,667 units
at a price of $1.50 per unit. Each unit (a "Unit") consists of one
common share and one-half of one share purchase warrant (a "Warrant"),
where each whole Warrant entitles the holder to purchase one common
share at a price of $1.80 per share for a period of 12 months.
Accordingly, the Company has issued a total of 2,666,667 common shares
and 1,333,334 Warrants in return for gross proceeds of $4,000,000 (the
The Company paid finders fees in connection with the Offering consisting
of $137,670 and 91,780 share purchase warrants ("Finders Warrants").
Each Finders Warrant entitles the holder to purchase one common share
at a price of $1.60 per share for a period of 12 months. All securities
issued in connection with the Offering are subject to a four (4) month
hold period which will expire on April 6, 2013.
The gross proceeds from the sale of the Units shall be used to fund the
Company's share of further exploration work on the Patterson Lake South
Property ("PLS") in the Athabasca Region of Saskatchewan, and for
general working capital.
Patterson Lake South Property
The 31,039-hectare PLS project is a 50-50 joint venture held by Alpha
Minerals Inc. and Fission Energy Corp. Fission is the current
operator. PLS is accessible by road with primary access from
all-weather Highway 955, which runs north to the former Cluff Lake mine
(greater than 60 million pounds of of triuranium octoxide produced) and
passes through the nearby UEX-Areva Shea Creek discoveries (with
resources of about 88 million pounds of U3O8) located 50 kilometres to
the north, currently under active exploration and development. Please
visit the Company's website for all the latest information www.alphaminerals.ca .
On behalf of the Board of Directors of Alpha Minerals Inc.
President and CEO
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.
Forward Looking Statements: The above contains forward looking
statements that are subject to a number of known and unknown risks,
uncertainties and other factors that may cause actual results to differ
materially from those anticipated in our forward looking statements.
Factors that could cause such differences include: changes in world
commodity markets, equity markets, costs and supply of materials
relevant to the mining industry, change in government and changes to
regulations affecting the mining industry. Forward-looking statements
in this release include statements regarding future exploration
programs, operation plans, geological interpretations, mineral tenure
issues and mineral recovery processes. Although we believe the
expectations reflected in our forward looking statements are
reasonable, results may vary, and we cannot guarantee future results,
levels of activity, performance or achievements.
SOURCE: Alpha Minerals Inc.
For further information:
For corporate communications please contact:
Robert (Bob) Meister
Alpha Minerals Inc.
Phone: (604) 629-0293
Toll Free: 1-866-629-0293
Please refer to the Alpha Minerals Inc. website for further and updated information.