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ALLIANCE ANNOUNCES INCREASE IN FINANCING
ALLIANCE ANNOUNCES INCREASE IN FINANCING
About this update from Alliance Mining Corp.
[{"type":"text","content":"\nALLIANCE ANNOUNCES INCREASE IN FINANCING\n\n\n Nov. 5, 2009 (TheNewswire.ca) -- (Kamloops, BC: November 5, 2009) - Alliance Mining Corp. (OOTC:ANMNF) (CNQ:ALM) (the \"Company\" or \"Alliance\") is pleased to announce that it has increased the size of the non-brokered private placement financing (the \"Private Placement\") announced on October 20, 2009. The Private Placement has been increased from a maximum of 3,000,000 units for aggregate gross proceeds of $300,000 to a maximum of 7,500,000 units for aggregate gross proceeds of $750,000. Each unit will consist of one common share in the capital of the Company and one non-transferable share purchase warrant, each warrant entitling the holder to purchase one additional common share in the capital of the Company for a period of two years from the date of issuance, at a purchase price of $0.12 per share during the first year and at $0.15 per share during the second year.The Company may pay finder's fees to certain arm's length parties (\"Finders\") in connection with the Private Placement, either in cash and/or the issuance of non-transferable share purchase warrants (\"Finder's Warrants\"), each Finder's Warrant entitling the holder to purchase one common share in the capital of the Company for a period of two years from the date of issuance at a purchase price of $0.12 per share during the first year and at $0.15 per share during the second year. Certain directors, officers and insiders of the Company may participate in the Private Placement.The securities issued will be subject to a hold period of four months. Proceeds of the Private Placement will be used for exploration on the Company's Placerita mineral properties located in Arizona and for general working capital. The Private Placement will be subject to normal regulatory approvals.About Alliance:Alliance's strategy is to concentrate on historical mining districts hosting dozens to hundreds of smaller mineralized zones that can quickly be delineated into resources while targeting higher-grade zones for mining using state of the art technologies that are not only cost effective but environmentally safe. Alliance is presently focused on properties in Arizona and Nevada. To learn more about Alliance visit www.alliancemining.com.Should you wish to receive Company News, please email [email protected] and specify \"Allianc...