Alexander Nubia International Inc. Announces Overnight-Marketed Common Share Offering
April 27, 2011 at 16:06 PM EDT
TORONTO, ONTARIO--(Marketwire - April 27, 2011) -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
Alexander Nubia International Inc. (the "Company") (TSX VENTURE:AAN) today announced that it has filed a short form preliminary prospectus (the "Prospectus") in connection with an overnight-marketed public offering of common shares of the Company (the "Common Shares") in all of the provinces of Canada other than Quebec. The final size, pricing and other terms of the offering, will be determined in the context of the market at the time of entering into an underwriting agreement, after completion of marketing activities and is subject to prevailing market conditions. The offering is being conducted through a syndicate led by Wellington West Capital Markets Inc., and including Cormark Securities Inc. and Industrial Alliance Securities Inc. (the "Underwriters").
The Company will also grant the Underwriters an over-allotment option to purchase additional Common Shares in an amount equal to up to 15% of the number of Common Shares sold pursuant to the offering, exercisable in whole or in part for a period of 30 days from and including the closing of the offering.
The Company intends to use the net proceeds from the offering to expand its drilling and exploration programs and for general corporate purposes. A copy of the Prospectus has been filed on SEDAR.
The offering is subject to certain customary conditions and regulatory approvals, including the approval of the TSX Venture Exchange, and the entering into by the Company and the Underwriters of an underwriting agreement.
About Alexander Nubia International Inc.:
The Company is a mineral exploration company whose mission is to explore for precious and base metal by implementing technical expertise of developed mineral-exploration jurisdictions, such as that of Canada, in resource-rich Africa. Initially, the Company established Egypt as its platform country, focusing on the under-developed Nubian Shield in the Eastern Desert, where historic mining of gold and copper dates back to Pharaonic times. The Company controls the Abu Marawat Concession, which covers an area of 1027 km2 in the Eastern Desert. The concession contains the main Abu Marawat, Semna (auriferous quartz veins), and Hamama (VMS) properties and other gold and base-metal exploration targets.
For more information on the Company please visit our web site at www.alexandernubia.com.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities referred to herein in the United States or in any jurisdiction where such offer or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a "U.S. person" (as defined in Regulation S under the U.S. Securities Act) absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act. No public offering of securities is being made in the United States.
Nothing in this announcement constitutes an offer of securities for sale in any jurisdiction where it is unlawful to do so.
Certain statements contained in this press release, the Prospectus and documents incorporated by reference in the Prospectus constitute "forward-looking statements". All statements other than statements of historical fact contained in this press release, the Prospectus and documents incorporated by reference in the Prospectus, including, without limitation, those regarding the Company's use of proceeds from the offering, going concern assumption of the Company, future financial position and results of operations, strategy, plans, objectives, goals and targets, future developments in the markets where the Company participates or is seeking to participate, and any statements preceded by, followed by or that include the words "believe", "expect", "aim", "intend", "plan", "continue", "will", "may", "would", "anticipate", "estimate", "forecast", "predict", "project", "seek", "should" or similar expressions or the negative thereof, are forward-looking statements. These statements are not historical facts but instead represent only the Company's expectations, estimates and projections regarding future events. These statements are not guarantees of future performance and involve assumptions, risks and uncertainties that are difficult to predict. Therefore, actual results may differ materially from what is expressed, implied or forecasted in such forward-looking statements.
Additional factors that could cause actual results, performance or achievements to differ materially include, but are not limited to, those discussed under "Risk Factors" in the Prospectus and documents incorporated by reference in the Prospectus. All of the forward-looking statements made in this press release, the Prospectus and documents incorporated by reference in the Prospectus are qualified by these cautionary statements, and there can be no assurance that the actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, the Company. Investors are cautioned not to put undue reliance on forward-looking information. The forward-looking statements are made as of the date hereof and the Company assumes no obligation to update or revise them to reflect subsequent information, events or circumstances or otherwise, except as required by applicable securities laws.
The forward-looking statements in this press release, the Prospectus and documents incorporated by reference in the Prospectus are based on estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking statements.
Some of the risks which could affect future results and could cause results to differ materially from those expressed in the forward-looking statements include: risks related to the Company's negative operating cash flow, anticipated drilling program results, ability to delineate mineral resource estimates compliant with National Instrument 43-101 on its material property, limited operating history, foreign operations (including various political, economic and other risks and uncertainties), termination or non-renewal of concession rights or expropriation of property rights, political instability and bureaucracy, lack of profitability, lack of infrastructure, high inflation rates, limited availability of debt financing, fluctuations in currency exchange rates, reliance on various factors (including local labour, importation of machinery and other key items and business relationships), a shift in gold trends and demands, vulnerability to fluctuations in the world market and stock market volatility.
The distribution of this announcement in certain jurisdictions may be restricted by law. Persons into whose possession this announcement comes are required by each of the Company and the Underwriters to inform themselves about, and to observe, any such restrictions.Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.