ALX Resources Corp. announced a non brokered private placement to issue 14,285,714 flow-through Units at an issue price of CAD 0.035 per unit for the gross proceeds of CAD 499,999.99 on October 17, 2023. Each flow-through unit consists of one flow-through common share and 1 non flow-through common share purchase warrant and will entitle the holder to purchase one non flow-through common share a price of CAD 0.05 for a period expiring 24 months following the closing date of the Offering.

Finder's fees will be payable to Red Cloud and other qualified finders in connection with the Offering consisting of 6.0% cash and 6.0% finder's warrants, with each finder's warrant exercisable at price of CAD 0.05 for a period expiring 24 months following the closing date of the Offering. All the securities issuable will be subject to a four-month hold period from the date of closing, which is expected to occur on or before November 24, 2023.