Alexandria Minerals forms Special Committee of the Board to Assess Strategic Alternatives
December 20 2017 - 5:59PM
Alexandria Minerals Corporation (TSX-V:AZX) (OTCQB:ALXDF)
(Frankfurt:A9D) (“
AZX” or the
“
Company”) announced today that, at a meeting of
its Board of Directors held on December 19, 2017, the mandate of a
Special Committee of the Board was finalized. The Special
Committee, which was formed on December 15, 2017, is comprised of
Walter Henry, Chair, Priya Patil and Gary O’Connor. The Special
Committee has been tasked with examining strategic alternatives for
the Company which include evaluating and implementing financing
alternatives, considering possible joint venture and other
strategic transactions, and assessing potential merger and
acquisition proposals.
Walter Henry, Chairman of the Special Committee,
said, “There is a fair amount of speculation about the Company at
the present time and we are expecting geological updates within the
next 60 days. This is an opportune time for us to start an
open and transparent process to determine how we, as a board, can
best be responsive to shareholder expectations, and to choose the
best path for the Company moving forward.”
There is no defined timeline for the strategic
review. The review of strategic alternatives may result in a
variety of outcomes or no outcome and there can be no assurance
that the Company will pursue or execute any specific action or
transaction. The Company does not intend to make any further
announcements or comments regarding the review of strategic
alternatives unless required by law.
In other matters, Eric Owens, President and CEO,
in his annual year-end review, stated, “We have made tremendous
progress this year finding gold, completing 45,000 metres of
drilling and expanding our Orenada Zone 4 gold deposit. We expect
even greater progress in 2018 as we complete our resource update
and build on that with a larger planned 60,000 m drill
program.”
Further information about the Company is also
available on the Company’s website, www.azx.ca, or our social media
sites listed below:
Facebook: https://www.facebook.com/AlexandriaMinerals
Twitter: https://twitter.com/azxmineralscorpYouTube:
http://www.youtube.com/AlexandriaMinerals Flickr:
http://www.flickr.com/alexandriaminerals/LinkedIn:
http://www.linkedin.com/company/alexandriaminerals
About Alexandria Minerals
CorporationAlexandria Minerals Corporation is a
Toronto-based junior gold exploration and development company with
strategic properties located in the world-class mining districts of
Val d’Or, Quebec, Red Lake, Ontario and Snow Lake-Flin Flon,
Manitoba. Alexandria’s focus is on its flagship property, the large
Cadillac Break Property package in Val d’Or, which hosts important,
near-surface, gold resources along the prolific, gold-producing
Cadillac Break, all of which have significant growth
potential.
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.
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|
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PLEASE CONTACT
www.azx.cainfo@azx.ca |
Mary VorvisVice President, Corporate Development
and Investor Relations(416) 305-4999 |
Eric OwensCEO/President
(416) 362-9100 |
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