Trading Symbol: TSXV:AXC.P
VANCOUVER, Aug. 12, 2014 /CNW/ - Alexandra Capital
Corp. (the "Company") (TSX Venture: AXC.P) is pleased to announce
the completion of its qualifying transaction with arm's length
vendor (the "Vendor") Eastland Management Limited
("Eastland"). The Company has been granted an option to
acquire a 100% interest in the Vendor's Southern Belle or "SB"
Project by incurring exploration expenditures totaling $100,000 over two years. Additionally, Alexandra
must make cash payments to the Vendor totaling $25,000 and issue 700,000 shares (200,000 first
year) over the two year option term.
Please refer to the Filing Statement for further information
about the Company and Alexandra and for further details respecting
the qualifying transaction. A copy of the Filing Statement is
available on SEDAR at www.sedar.com under the Company's
profile.
Mr. Ioannis Tsitos has been added
to the board of directors, which now consists of:
Mr. Blake Olafson
Mr. Patrick Morris
Mr. Ioannis Tsitos
Ms. Suzanne Wood has resigned as
an officer and director of the Company.
Ms. Blake Olafson has been
appointed the Company's President and Chief Executive Officer and
Ms. Vivian Katsuris has been
appointed the Company's Chief Financial Officer and Secretary.
The Company also announces the concurrent completion of a
non-brokered private placement (the "Offering"). The Company
issued an aggregate of 2,400,000 flow-through units (the "Units")
at a price of $0.05 per Unit for
gross proceeds of $120,000.00.
Each Unit consists of one flow-through common share and one share
purchase warrant, with each whole warrant entitling the holder to
purchase one additional common share at a price of $0.10 for five years from closing of the
Offering. A finder's fee of 240,000 non flow-through units
has been paid in connection with the private placement. All
securities issued with respect to the Offering are subject to a
hold period expiring December 11,
2014.
The proceeds of the private placement will be used to finance
the Company's exploration program on the SB Project.
As a result, effective at market open on Wednesday, August 13, 2014, the Company expects
to resume trading under the trading symbol "AXC" and, accordingly,
the Company will no longer be a capital pool company within the
meaning of TSX Venture Exchange Policy 2.4.
ON BEHALF OF THE BOARD OF DIRECTORS
"Blake Olafson"
Blake Olafson
President, CEO and
Director
SOURCE Alexandra Capital Corp.