Ottawa, December 22, 2017 -
Albert Mining Inc. ("Albert" or "Corporation") (TSX-V: AIIM) announces an increase to its non-brokered private placement (the "Offering") for a total of up to $830,000 consisting of 10 million units at $0.05 per unit comprised of one common share and one common share purchase warrant (the "Warrant"). Each Warrant will entitle the holder thereof to acquire one additional common share in the capital of the Corporation at a price of $0.07 per common share for a period of twenty-four (24) months following the closing of the Offering for gross proceeds of $500,000. The Corporation is also offering 4,714,290 flow-through common shares at a price of $0.07 per share for gross proceeds of $330,000. (Reference to news release of November 14, 2017)
In connection with the private placement, the Corporation will be paying, as finder's fees, 7% on hard cash and flow-through and 7% in broker warrants. Each broker warrant will entitle the finder 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 following the closing of the Offering.
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 and working capital.
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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