Business
Alliance Mining Corp. Announces Private Placement
(via Thenewswire.ca)
About this update from Alliance Mining Corp.
[{"type":"text","content":"Alliance Mining Corp. Announces Private Placement\n\n(via Thenewswire.ca)\nJanuary 20 2009 - (Kamloops, BC) Alliance Mining Corp. (the \"Company\" or \"Alliance\" CNSX-ALM) announces a second amendment to a non-brokered private placement that was originally announced on October 20, 2008 and as amended on January 12, 2009.\n\nThe Private Placement will raise gross proceeds of up to $750,000 by issuing up to 15,000,000 units priced at $0.05 per unit based on a \"best efforts\" offering. 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 twenty four months at a purchase price of $0.08 per share. Proceeds of the Private Placement will be used to delineate gold mineralization on the Company's mineral properties and for working capital. The Private Placement will be subject to normal regulatory approvals.\n\nThe Company may pay a finder's fees to certain arm's length parties (\"Finders\") in connection with the Private Placement equal to 10% of the subscription proceeds realized from the sale of Units by the respective Finder, payable in cash, and the issuance of that number of non-transferable share purchase warrants (the \"Finder's Warrants\") equal to 10% of the number of Units sold by the Finder, each Finder's Warrant entitling the holder to purchase one common share in the capital of the Company for a twenty four months from the date of issuance at a purchase price of $0.08 per Share. 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.\n\nThe Private Placement that was announced on October 20, 2008 and as amended on January 12, 2009 was to issue up to 10,000,000 units at $0.075 per unit to raise gross proceeds of up to $750,000 (the \"Private Placement\"). Each unit was to 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 eighteen months from the date of issuance, at a purchase price of $0.10 per share.\n\nAbout Alliance:\n\nAlliance's strategy is to con...