Duyuru • 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. Duyuru • 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. Duyuru • 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 Duyuru • Jan 25
ALX Resources Corp. Detects SGH Geochemical Uranium Anomaly at the Gibbons Creek Uranium Project, Athabasca Basin, Saskatchewan ALX Resources Corp. announced the receipt of results from a Soil Gas Hydrocarbon (‘SGH’) geochemistry survey carried out on its 100%-owned Gibbons Creek Uranium Project (‘Gibbons Creek’, or the ‘Project’) located in the northern Athabasca Basin near the town of Stony Rapids, SK. The SGH survey was designed to collect detailed geochemical signatures over fault structures and surface expressions of uranium where the Company previously intersected basement-hosted uranium mineralization grading 0.13% U3O8 over 0.23 metres from 107.67 to 107.90 metres in drill hole GC15-03, and over a strong radon anomaly that was detected on surface by a predecessor company in 2013. 2023 SGH Geochemical Survey: SGH is an analytical method developed by Activation Laboratories Ltd. (‘Actlabs’) of Ancaster, Ontario, Canada that is designed to detect subtle geochemical anomalies emanating from a buried source. In November 2023, ALX collected 278 SGH soil samples over an approximate 3.4 square kilometres area within the 2023 Gibbons Creek ground magnetic survey grid to assist in developing new drill targets in previously untested areas. The 2023 SGH survey was successful in identifying a strong uranium anomaly in a structurally complex area of the Project. The 2023 SGH uranium anomaly covers the area of ALX's 2015 mineralized drill hole GC15-03 and a second mineralized hole (GC-15) drilled in 1979 by Eldorado Nuclear Limited (‘Eldorado’, a predecessor company of Cameco Corporation), which intersected 0.152% U3O8 over 0.13 metres from 134.11 to 134.24 metres1. The outline of the uranium anomaly as delineated by Actlabs is depicted as a roughly-oval shape measuring approximately 500 metres wide by 1,000 metres long, with the majority of its surface area untested by historical drill holes. In combination with the fault structures defined by ALX's ‘walking mag’ survey in late 2023, the SGH survey results have provided compelling evidence for new drill targets at Gibbons Creek. Duyuru • Jan 19
ALX Resources Corp. Receives Results from ZTEM Airborne Electromagnetic Survey at the Hook-Carter Uranium Project, Athabasca Basin, Saskatchewan ALX Resources Corp. announced that it has received the results of an airborne Z-Axis Tipper electromagnetic ("ZTEMTM") survey flown in June 2023 at the Hook-Carter Uranium Project ("Hook-Carter", or the "Project"). Hook-Carter consists of eleven claims covering 25,115 hectares and is located in the southwest corner of the Athabasca Basin approximately 147 kilometres northeast of La Loche, SK. The Project has excellent potential to host economic uranium deposits. Hook-Carter is interpreted to host the northeastern strike extension of the Patterson Lake Corridor ("PLC"), which hosts Nexgen Energy's Arrow uranium deposit, Fission Uranium's Triple R uranium deposit, and Purepoint Uranium Group's ("Purepoint") Spitfire, Hornet and Dragon zones in a joint venture with Cameco Corporation and Orano Canada. The Project also overlies the interpreted strike extension of the Carter and Derksen corridors, each of which represent highly-prospective, under-explored corridors in which significant uranium mineralization may exist. ZTEMTM is a deep-penetrating airborne electromagnetic ("EM") survey method known to be an effective exploration method for detecting geophysical conductors that may be associated with unconformity uranium mineralization. The 2023 Hook-Carter ZTEMTM survey successfully outlined historical conductors present at Hook-Carter and resolved new conductors in deeper terrain that were not identified by previous geophysical surveys. Duyuru • Nov 29
ALX Resources Corp. Announces Completion of Soil Geochemistry Survey and High-Resolution Ground Magnetic Survey at Gibbons Creek Uranium Project ALX Resources Corp. announced the completion of a soil geochemistry survey and a high-resolution ground magnetic survey at the Gibbons Creek Uranium Project located in the northern Athabasca Basin near the town of Stony Rapids, Saskatchewan. The surveys were designed to provide detailed magnetic and geochemical signatures over fault structures and surface expression of uranium where the Company previously intersected basement-hosted uranium mineralization grading 0.13% U3O8 over 0.23 metres from 107.67 to 107.90 metres in drill hole GC15-03, and over a strong radon anomaly that was detected on surface by a predecessor company in 2013. Geochemical Sampling: ALX carried out a Spatiotemporal Geochemical Hydrocarbons (SGH) soil geochemistry survey over an approximate 3.4 square kilometres area within the 2023 Gibbons Creek ground magnetic grid to help determine the most prospective areas for drill targets in previously untested areas. SGH is an analytical method developed by Actlabs of Ancaster, Ontario that is designed to detect subtle geochemical anomalies emanating from a buried source. High-Resolution Magnetic Survey: ALX carried out approximately 105 line kilometres of walking mag, which is an efficient method of collecting ground magnetic data using personnel carrying light-weight magnetic sensing instruments. The 2023 survey lines were spaced 50-metres apart, which provided superior resolution of the magnetic character of the basement rocks and greatly assists in the interpretation of fault structures in the survey area. The results of ALX's walking mag survey have clearly defined fault structures that were simply not visible in the wide-spaced (200 to 400 metres) airborne magnetic data available in the public domain from historical exploration. The 2023 Gibbons Creek grid covers the area of ALX's 2015 mineralized drill hole GC15-03 and a second mineralized hole (GC-15) drilled in 1979 by Eldorado Nuclear Limited, which intersected 0.152% U3O8 over 0.13 metres from 134.11 to 134.24 metres. Based on the results of its follow-up drilling to the west of hole GC-15, Eldorado interpreted the presence of an east-west trending reverse fault dipping steeply to the north and described highly altered, soft and unconsolidated and fractured sections two to four metres in extent, indicative of the fault structure. Reverse faults can form structural traps, which can provide a favorable setting for uranium mineralization. The 2023 mag and geochemical surveys at Gibbons Creek will help contextualize the historical mineralized drill holes and surface geochemical anomalies and define new drill targets. For example, the 2013 radon survey, using the radon flux monitoring technique, detected an anomaly approximately 1,200 metres by 500 metres in size with peak radon values ranging between 4.00 picocuries per square metre per second (pCi/m2/sec) and 10.77 pCi/m2/sec at ten locations, which are among the highest recorded radon values in the Athabasca Basin. However, drill testing by ALX in the fall of 2015 in the area of the radon anomaly did not intersect significant uranium mineralization. The results of the 2023 SGH sampling and high-resolution magnetic survey will provide valuable information as to the source of the radon anomaly, which may be offset from the surface expression because the radon gas could have followed an oblique path through fault structures in the general area of the anomaly. Results of the SGH survey are expected in January 2024. ALX currently has an active drill permit for Gibbons Creek, good until April 2024, and plans to carry out a diamond drilling program, pending financing. 