The common shares of ALX Uranium Corp. commenced trading on the TSX Venture Exchange on September 25, 2015 , under the trading symbol "AL", previously trading under the name Lakeland Resources Inc. and symbol TSX.v: LK.
The newly combined Board and Management of ALX Uranium Corp. brings to the junior exploration sector an unusual depth of expertise and track record of success. Please see the Company’s website for capsule biographic summaries.
The Company is pleased to report the results of the first meeting of the newly combined Board, including:
From Alpha, appointment of Dr. Michael Gunning as Executive Chairman and Director, and Mr. Warren Stanyer and Benjamin Ainsworth as Directors.
From Lakeland, Jonathan Armes will continue in the position of President, Chief Executive Officer and Director, and Jody Dahrouge and Steven Khan will continue as Directors.
Sierd Eriks from Alpha will continue his work as Vice-President Exploration for ALX.
Charles Roy from Alpha will continue in his position as Technical Advisor to the Board for ALX.
From Lakeland, Mr. David Hodge and Mr. Neil McCallum have resigned as Directors.. The Board of Directors would like to thank Mr. Hodge and Mr. McCallum for their service and the contributions that they have made during their tenure on the board.
Audit, Compensation and Corporate Governance Committees are established.
The Board also approved:
Completion this fall of a $750,000 diamond drill program at the Company’s Kelic Lake property in the Athabasca Basin, Saskatchewan. Details will be provided in a subsequent news release.
Allocation of 3,725,000 incentive stock options, of which 2,700,000 options are granted to to Directors and Officers of the Company. The options will be exercisable at a price of $0.10 per share for a term of 10 years from the date of issue.
ALX Uranium President and CEO Jon Armes said: "the consolidated share structure and anticipated market capitalization for ALX will provide a niche in the junior uranium space for potential new investors, underscored by the combined marketing strength and technical expertise of both companies, and their track record of success in exploration spanning the past 30 years."
ALX Uranium executive chairman Michael Gunning said: "with this business combination we believe the combined company can leverage the strategic treasury to facilitate rigorous but aggressive exploration on a merged property portfolio which spans the PLS camp along the southwest margin of the Athabasca Basin to the Black Lake area along the northeastern margin of the Basin."
