Vancouver, British Columbia – March 20, 2019 – Alba Minerals Ltd. (“Alba”) (TSX - Venture: AA / Frankfurt: A117RU / OTC: AXVEF) is pleased to announce that the TSX Venture Exchange has accepted for filing a previously announced private placement for gross proceeds of $602,500. This placement has raised $102,500 over its previously announced offering of $500,000 on March 7, 2019.
The Company issued a total of 7,531,250 units at a price of $0.08 per unit. Each unit is comprised of one (1) common share and (1) transferable share purchase warrant. Each warrant will be exercisable at a price of $0.10 for two (2) years from the date of issuance. No insiders participated in this placement.
Finder’s Fees of $18,400 cash and 230,000 warrants will be payable to PI Financial Corp., $15,000 cash and 187,500 warrants will be payable to Haywood Securities Inc., $4,480 cash and 56,000 warrants will be payable to 51 Media Ltd., and $4,000 cash and 50,000 warrants will be payable to Mark Ireton. finder warrants will be subject to the same terms and conditions as the warrants that comprise the units.
All securities to be issued in connection with the offering wil be subject to the four-month-and-one-day statutory hold period.
About Alba Minerals Ltd.
Alba Minerals Ltd. is a Vancouver-based junior resource company with projects in North and South America. Alba is focused on the development of the following mineral properties:
- The Quiron II Lithium Property consists of 2,421 hectares of prospective lithium exploration in the Pocitos Salar, Province of Salta, Argentina. The Property is located approximately 12 km northeast from the Liberty One Lithium Corp and 19 km from Pure Energy Minerals Ltd.’s Pocitos prospects.
- The Chascha Norte property consists of 2,843 hectares of prospective lithium exploration in the Southeastern part of the Salar de Arizaro, Salta, Argentina in closest vicinity to Argentina Lithium & Energy Corporation’s and Lithium X’s Arizaro lithium brine projects.
- The Rainbow Canyon Gold Property consists of 417 hectares of prospective gold exploration in the Olinghouse mining district, in the Washoe County Nevada.
- The Muddy Mountain property consists of 450.41 hectares of prospective lithium exploration in Muddy Mountains of Clark County, Nevada.
Please visit our web site for further information:www.albamineralsltd.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Chairman & Director
Phone: (604) 662-7902
This news release contains projections and forward - looking information that involve various risks and uncertainties regarding future events. Such forward - looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company. The following are important factors that could cause the Company’s actual results to differ materially from those expressed or implied by such forward looking statements; the uncertainty of future profitability; and the uncertainty of access to additional capital. These risks and uncertainties could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from anticipated in such information. These and all subsequent written and oral forward- looking information are based on estimates and opinions of management on the dates they are made and expressed qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking information should circumstance or management's estimates or opinions change.
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.