Business
Alliance Mining Corp. Closes Second Tranche of Private Placement
Alliance Mining Corp. Closes Second Tranche of Private Placement
About this update from Alliance Mining Corp.
[{"type":"text","content":"\nAlliance Mining Corp. Closes Second Tranche of Private Placement\n\n\n May 27, 2009 (TheNewswire.ca) -- May 27 2009 - Kamloops, British Columbia - Alliance Mining Corp. (OOTC:ANMNF) (CNQ:ALM) (the \"Company\" or \"Alliance\" CNSX-ALM) is pleased to announce that further to its news releases dated January 20, 2009, and March 4, 2009 the Company has closed the Second Tranche of a non-brokered private placement by the issuance of 1,400,000 units at a price of $0.05 per unit for gross proceeds of $70,000. Each unit consists of one common share and one common share purchase warrant, each warrant entitling the holder thereof to acquire one additional common share in the capital of the Company on or before May 27, 2011 at a price of $0.08 per share.In connection with the private placement, a 10% finder's fee of $6,200 was paid to an arm's length party (the \"Finder\") and 124,000 Finder's warrants were issued to the Finder entitling the Finder to purchase that number of common shares of the Company as is equal to 10% of the number of Units placed by the Finder. The Finder's warrants are exercisable until May 27, 2011 at a price of $0.08 per Share.All securities issued by the Company pursuant to the private placement will be subject to a hold period of four months and one day. Proceeds of the private placement will be used for working capital. The private placement will be subject to normal regulatory approvalsAbout 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 may not only be cost effective but environmentally safe. Alliance is presently focused on properties in Arizona. To learn more about Alliance visit www.alliancemining.com.Should you wish to receive Company News, please email [email protected] and specify \"Alliance Mining News\" in the subject line.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-looki...