Announcement • Dec 31
Greenridge Exploration Inc. (CNSX:GXP) completed the acquisition of ALX Resources Corp. (TSXV:AL). Greenridge Exploration Inc. (CNSX:GXP) signed a letter of intent to acquire ALX Resources Corp. (TSXV:AL) for approximately CAD 9 million on September 4, 2024. Under the terms of the LOI, each common shareholder of ALX will receive 0.045 common shares of Greenridge in exchange for each ALX common share held. Upon completion of the Proposed Transaction, existing Greenridge and ALX shareholders will own approximately 74.2% and 25.8%, respectively, of the common shares of the combined entity. Upon completion of the Proposed Transaction, the Board of Directors of Greenridge will be comprised of five directors including (i) the three directors currently on the Greenridge Board, and (ii) two directors including Warren Stanyer, ALX's current Chief Executive Officer and Chairman, as well as another director to be mutually agreed upon by Greenridge and ALX. Russell Starr will continue to serve as Chief Executive Officer and Director of the combined entity. Warren Stanyer is expected to join Greenridge as President. As of October 11, 2024, Greenridge Exploration enters into binding arrangement agreement to acquire ALX Resources Corp. A reciprocal termination fee of CAD 250,000 is payable if the Arrangement Agreement is terminated in certain circumstances. In the event that a Superior Proposal is accepted by ALX pursuant to the terms of the Arrangement Agreement, a break fee of CAD 400,000 is payable by ALX to Greenridge. The board of directors of ALX has unanimously determined that the Arrangement is in the best interests of ALX and unanimously recommends that the ALX Shareholders vote in favour of the Arrangement Resolutions. Subject to certain conditions, including the Parties obtaining the requisite regulatory approvals, the Transaction is expected to close in December 2024. As of October 28, 2024, the transaction is expected to be completed on or about December 6, 2024. All directors and senior officers have entered into customary support and voting agreements pursuant to which they have agreed to vote their ALX securities in favour of the Transaction.
Completion of the Proposed Transaction is subject to, among other conditions, the following: satisfactory completion of due diligence to the satisfaction of Greenridge and ALX; entering into the Definitive Agreement following its approval by the Board of Directors of both Greenridge and ALX; ALX Shareholders approving the Proposed Transaction by the requisite majority; regulatory and court approvals; a fairness opinion from a financial advisor stating that the Proposed Transaction is fair, from a financial point of view, to ALX Shareholders; and other conditions customary for a public transaction of this nature. Upon completion of the Arrangement Agreement, Greenridge and ALX shareholders will own 75.2% and 24.8% respectively of the common shares of the new combined entity, which will retain the name “Greenridge”. As on December 2, 2024 the transaction have been approved by the ALX Resources shareholders and is expected to be close on or about December 13, 2024.
Red Cloud Securities Inc. is financial advisor and fairness opinion provider to ALX. Computershare Trust Company of Canada acted as transfer agent to ALX.
Greenridge Exploration Inc. (CNSX:GXP) completed the acquisition of ALX Resources Corp. (TSXV:AL) on December 30, 2024. Announcement • Sep 06
Greenridge Exploration Inc. (CNSX:GXP) signed a letter of intent to acquire ALX Resources Corp. (TSXV:AL) for approximately CAD 9 million. Greenridge Exploration Inc. (CNSX:GXP) signed a letter of intent to acquire ALX Resources Corp. (TSXV:AL) for approximately CAD 9 million on September 4, 2024. Under the terms of the LOI, each common shareholder of ALX will receive 0.045 common shares of Greenridge in exchange for each ALX common share held. Upon completion of the Proposed Transaction, existing Greenridge and ALX shareholders will own approximately 74.2% and 25.8%, respectively, of the common shares of the combined entity. Upon completion of the Proposed Transaction, the Board of Directors of Greenridge will be comprised of five directors including (i) the three directors currently on the Greenridge Board, and (ii) two directors including Warren Stanyer, ALX's current Chief Executive Officer and Chairman, as well as another director to be mutually agreed upon by Greenridge and ALX.Russell Starr will continue to serve as Chief Executive Officer and Director of the combined entity. Warren Stanyer is expected to join Greenridge as President.
Completion of the Proposed Transaction is subject to, among other conditions, the following: satisfactory completion of due diligence to the satisfaction of Greenridge and ALX; entering into the Definitive Agreement following its approval by the Board of Directors of both Greenridge and ALX; ALX Shareholders approving the Proposed Transaction by the requisite majority; regulatory and court approvals; a fairness opinion from a financial advisor stating that the Proposed Transaction is fair, from a financial point of view, to ALX Shareholders; and other conditions customary for a public transaction of this nature. Red Cloud Securities Inc. is financial advisor to ALX. Announcement • Jun 14
ALX Resources Corp., Annual General Meeting, Jul 29, 2024 ALX Resources Corp., Annual General Meeting, Jul 29, 2024. Location: british columbia, vancouver Canada 
