Kerkasha License in Eritrea

Alpha Exploration (ALEX.V) is determined to continue its exploration efforts on the Kerkasha project in Eritrea where recent exploration results have confirmed the prospectivity of the area. You can re-read our most recent update on Alpha Exploration HERE.

Alpha is now raising up to C$3.6M in a non-brokered private placement priced at C$0.70 per unit with each unit consisting of one common share and a full warrant with a strike price of C$1.05, valid for a period of 24 months.

The lead order for this financing is coming from Crescat Capital which has confirmed to the company it intends to subscribe for C$700,000 in the current placement. Having a lead order should make it easier for Alpha to try to fill the placement but it still isn’t an easy market out there.

Disclosure: The author has a small long position in Alpha Exploration. Alpha is a sponsor of the website. Please read our disclaimer.

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