The private placement comprises up to 2,777,777 flow-through units, each consisting of one flow-through common share and one-half of one warrant, at a price of $0.18 per unit.
It provides the holder with an option to purchase one non-flow-through common share at $0.25 per share at any time until 18 months from the date of issue of the warrant.
Alpha Exploration said that certain directors, officers, employees and consultants of the company will take part in the offering for proceeds of up to $200,000.
Subject to the TSX Venture Exchange approval, the transaction is expected to be concluded on or before 10 October 2014.
Located along the southern margin of the Athabasca Basin, the Kelic Lake covers approximately 17,247 hectares of land and comprises five mineral claims.
The Hook Lake property is located in the southwestern portion of the Athabasca Basin, and has three mineral dispositions totaling 13,210 hectares.
