Business
ALLIANCE MINING CORP. CLOSES SECOND TRANCHE OF PRIVATE PLACEMENT
Jan. 7, 2011 (TheNewswire.ca) -- January 7, 2010 - Alliance Mining Corp. (OOTC:ANMNF) (CNQ:A...
About this update from Alliance Mining Corp.
[{"type":"text","content":"\nALLIANCE MINING CORP. CLOSES SECOND TRANCHE OF PRIVATE PLACEMENT\n\n\n Jan. 7, 2011 (TheNewswire.ca) -- January 7, 2010 - Alliance Mining Corp. (OOTC:ANMNF) (CNQ:ALM) (the \"Company\" or \"Alliance\") is pleased to announce that the non-brokered private placement announced December 7, 2010 (the \"Private Placement\") consisting of 1,250,000 units has been oversubscribed for a total of 1,375,000 units for gross proceeds of $68,750.The Company has closed the second tranche of the Private Placement by the issuance of 875,000 units at a purchase price of $0.05 per unit to raise gross proceeds of $43,750. Each unit consists of one common share and one transferable share purchase warrant. Each warrant entitles the holder to purchase one additional common share in the capital of the Company on or before January 4, 2013 at a purchase price of $0.08 per share.The securities issued by the Company are subject to a hold period of four months and one day and cannot be resold until May 5, 2011.No finder's fees are payable on the Private Placement. Proceeds of the Private Placement will be used for working capital.About Alliance:Alliance mining has been focused on acquiring and delineating highly prospective Gold and Silver mineral properties in Arizona's most prolific gold producing area - Yavapai County located in central Arizona. Over the past decade the company has built up an extensive inventory of geologically significant properties, most of whom have experienced gold and silver production in the past century. The company plans to take these properties to the next stage of exploration and development using modern techniques unavailable to earlier miners. An extensive exploration program is being planned for these precious metal assets in 2011, along with a strong emphasis on increasing shareholder value and liquidity.ON BEHALF OF THE BOARD\"Jan C. Ross\"Mr. Jan C. Ross, President and CEOFOR FURTHER INFORMATION PLEASE CONTACT:Alliance Mining Corp.Jan C. Ross, President and CEO(250) 319-4793The CNSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.Certain of the statements made and information contained herein is \"forward-looking information\" within the meaning of the Ontario Securities Act. This includes statements concerning the Company's plans at its mineral properties, which involve k...