VANCOUVER, Sept. 28, 2015 /CNW/ - ALX Uranium Corp.
("AL") is the result of a recently approved business
combination between Lakeland Resources Inc. and Alpha Exploration
Inc. (see news release dated September
23, 2015). The common shares of ALX Uranium Corp.
commenced trading on the TSX Venture Exchange on September 25, 2015, under the trading symbol
"AL", previously trading under the name Lakeland Resources Inc. and
symbol TSX.v: LK.
The newly combined Board and Management of ALX Uranium Corp.
brings to the junior exploration sector an unusual depth of
expertise and track record of success. Please see the
Company's website for capsule biographic summaries. The
Company is pleased to report the results of the first meeting of
the newly combined Board, including:
- From Alpha, appointment of Dr. Michael
Gunning as Executive Chairman and Director, and Mr.
Warren Stanyer and Benjamin Ainsworth as Directors.
- From Lakeland, Jonathan Armes
will continue in the position of President, Chief Executive Officer
and Director, and Jody Dahrouge and
Steven Khan will continue as
Directors.
- Sierd Eriks from Alpha will
continue his work as Vice-President Exploration for ALX.
- Charles Roy from Alpha will
continue in his position as Technical Advisor to the Board for
ALX.
- From Lakeland, Mr. David Hodge
and Mr. Neil McCallum have resigned
as Directors.. The Board of Directors would like to thank Mr.
Hodge and Mr. McCallum for their service and the contributions that
they have made during their tenure on the board.
- Audit, Compensation and Corporate Governance Committees are
established.
The Board also approved:
- Completion this fall of a $750,000 diamond drill program at the Company's
Kelic Lake property in the
Athabasca Basin,
Saskatchewan. Details will be provided in a subsequent news
release.
- Allocation of 3,725,000 incentive stock options, of which
2,700,000 options are granted to to Directors and Officers of the
Company. The options will be exercisable at a price of
$0.10 per share for a term of 10
years from the date of issue.
Jon Armes, President and CEO adds
that, "the consolidated share structure and anticipated market
capitalization for ALX will provide a niche in the junior uranium
space for potential new investors, underscored by the combined
marketing strength and technical expertise of both companies, and
their track record of success in exploration spanning the
past 30 years."
Dr. Michael H. Gunning, Executive
Chairman stated, "with this business combination we
believe the combined company can leverage the strategic treasury to
facilitate rigorous but aggressive exploration on a merged property
portfolio which spans the PLS camp along the southwest margin of
the Athabasca Basin to the
Black Lake area along the
northeastern margin of the Basin".
Please see the company's website at www.alxuranium.com for
management profiles and property map.
About ALX Uranium Corp.
ALX Uranium Corp. was formed as the result of a business
combination between Lakeland Resources Inc. and Alpha Exploration
Inc. ALX is based in Vancouver and its common shares are listed on
the TSX Venture Exchange under the symbol "AL". ALX is
well-financed to actively explore a portfolio of early-stage
properties. Technical reports are available on SEDAR
(www.sedar.com) the Company's active properties. ALX continually
and proactively reviews opportunities for new properties, whether
by staking, joint venture or acquisition.
On Behalf of the Board of Directors
ALX URANIUM CORP.
"Jonathan Armes"
Jonathan Armes
President, CEO and Director
Forward Looking Statements: This news release 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. Forward-looking statements in this
release include statements regarding the proposed diamond drill
program. In addition to other factors and assumptions which
may be identified in this press release, assumptions have been made
regarding and are implicit in, among other things, the timely
receipt of any required regulatory approvals (including court
approvals). 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.
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 ALX Uranium Corp.