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Alpha Exploration Announces Change of Chief Financial Officer and Insider Involvement of Private Placement Financing
Calgary, Alberta--(Newsfile Corp. - November 24, 2022) - Alpha Exploration Ltd. (TSXV: ALEX) (...
About this update from Alpha Exploration Ltd.
[{"type":"text","content":"Alpha Exploration Announces Change of Chief Financial Officer and Insider Involvement of Private Placement FinancingCalgary, Alberta--(Newsfile Corp. - November 24, 2022) - Alpha Exploration Ltd. (TSXV: ALEX) (\"Alpha\" or the \"Company\") announces that Mr. Francisco Del Castillo of Malaspina Consultant Services (\"Malaspina\") has recently resigned his position as Chief Financial Officer (CFO) of Alpha to pursue other interests. Ms. Denitsa Doncheva, also of Malaspina, has been appointed to the position of CFO to Alpha with immediate effect. Malaspina is a private company that provides accounting, administrative and CFO services to Canadian public companies.Ms. Doncheva has over eight years of accounting experience including providing CFO, assistant CFO and Controller services to other exploration companies and she will be responsible for preparing consolidated financial statements, MD&A and period-end board reporting packages for Alpha. Denitsa holds a Bachelor of Business Administration (Accounting with Distinction) from Simon Fraser University and received her CPA designation in 2019. Prior to joining Malaspina in 2019 Denitsa spent three years working at a local mid-sized CPA firm.Private Placement Financing Alpha has previously announced that, after market close on September 13, 2022, it closed a tranche of its previously announced non-brokered private placement of units in the capital of the Corporation (\"Units\") at a purchase price of $0.70 per Unit, for total aggregate gross proceeds of $1,710,409.40 (the \"Offering\"). The principal use of the proceeds of the Offering are for funding ongoing exploration work on the Kerkasha Project in Eritrea, operating and administrative expenses, working capital and general corporate purposes.Each Unit is comprised of one ordinary share in the capital of the Corporation (\"Ordinary Share\") and one full Ordinary Share purchase warrant (\"Warrant\"). The Warrants are subject to a warrant indenture between the Corporation and Odyssey Trust Company (the \"Warrant Indenture\"). Each Warrant entitles the holder to purchase one Ordinary Share for a period of 24 months following the closing date of the Offering at an exercise price of $1.05, subject to the Warrant Indenture. Insiders and management members of Alpha participated in the Offering and same had been disclosed to the TSXV....