RAB Special Situations (fka RAB)

[Tackler]

Alexis Minerals issues $1-million in units to RAB

2004-06-29 17:37 ET - News Release


Mr. Neil Warrender reports

RAB SPECIAL SITUATIONS L.P./ALEXIS MINERALS CORPORATION-ANNOUNCEMENT

RAB Special Situations L.P. has entered into a subscription agreement with Alexis Minerals Corp. where it subscribed for a total of 2,222,300 units of the company at a price of 45 cents per unit. Each unit consists of one common share of the company and one-half of one share purchase warrant. Each warrant entitles special situations to purchase one share for a period of 24 months after closing at a price of 65 cents per share. The transaction took place off the market by way of private placement.

Special Situations has ownership of and control over the securities purchased in the private placement. The purchased securities represent approximately 8.52 per cent of the issued and outstanding shares on a partially diluted basis (assuming exercise of its warrants).

Immediately after the private placement, Special Situations owned 4,322,300 shares and 1,761,150 warrants representing approximately 15.29 per cent of the issued and outstanding shares on a partially diluted basis.

Special Situations purchased units for investment purposes only and not with the purpose of influencing the control or direction of the company. Special Situations together with joint actors, if any, may, subject to market conditions, make additional investments in or dispositions of securities of the company in the future, including additional purchases of shares. Special Situations and its joint actors, if any, do not, however, intend to acquire 20 per cent of any class of the outstanding voting or equity securities of the company.