by Greg Klein | September 23, 2015
ALX Uranium Corp TSXV:AL, a new Athabasca Basin explorer created out of Lakeland Resources TSXV:LK and Alpha Exploration TSXV:AEX, begins trading September 25. Final approvals came through from the TSXV and British Columbia Supreme Court, the betrothed announced on September 23, six days after receiving overwhelming shareholder approval.
Prior to the trading debut, Lakeland shares undergo a 1:3 reverse split and the company changes its name to ALX. Alpha owners will exchange two of their shares or exercise two warrants to get one ALX share. Delisted Alpha then becomes a wholly-owned subsidiary of ALX.
The combined properties will give ALX one of the Basin’s largest portfolios. Among the standouts are the 100%-held Carter Lake and Hook Lake projects, featuring about 15 kilometres of untested corridors on strike with the discoveries at Patterson Lake South, Arrow and Spitfire. Other properties of special note are the 100%-held Gibbon’s Creek, Newnham Lake and Lazy Edward Bay, as well as a 100% option on Kelic Lake, a 60% stake in the Carpenter Lake joint venture and an 80% share of the Gorilla JV.
Already working together, the ALX geotechnical team-to-be has been planning a new exploration strategy. Both companies will contribute strong treasuries to ALX’s coffers.
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