Albert Mining Inc. Announces the Closing of the 1st Tranche of Its non brokered Private Placement
Ottawa, December 27, 2017 - Albert Mining Inc. ("Albert" or "Corporation") (TSX-V: AIIM) announces the closing of the first tranche of its non-brokered private placement by issuing 4,714,286 flow-through common shares at a price of $0.07 per share for gross proceeds of $330,000. In connection with the 1st tranche of the private placement, the Corporation is paying a finder's fee of $13,720 and issuing 196,000 finder's warrants. Each finder's warrant entitles the holder to purchase one additional common share in the capital of the Corporation at a price of $0.065 per common share for a period of twenty-four (24) months expiring December 27, 2019.
Insiders of the Corporation have participated in the private placement by purchasing collectively 1.1 million flow-through common shares.
All securities issued in the private placement are subject to a four-month hold period and to all necessary regulatory approvals, including the approval of the Exchange.
The proceeds of the financing will be used for exploration.
About Albert Mining Inc.
Albert is a junior mining exploration company with an extensive portfolio of gold and diamond properties in Quebec. Albert also recently acquired assets from DIAGNOS Inc.'s mining division, including the Computer Aided Resources Detection System ("CARDS"). Albert can count on a multidisciplinary team that includes professionals in geophysics, geology, Artificial Intelligence, and mathematics. The Company's objective is to develop a new royalty stream by significantly enhancing and participating in the exploration success rate of mining.
For further information, please contact:
Michel Fontaine, President and CEO of Albert Mining Inc.
Telephone: 514-994-5843
Fax: 613-422-0773
Email: michel@albertmining.com
Website: www.albertmining.com
Additional information about the Company is available under Albert's profile on SEDAR at www.sedar.com.
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.
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