ALX Resources Corp. (TSXV:AL) announced that it has entered into an investment agreement with new investor Alumina Partners (Ontario) Ltd. for an equity line private placement of units for gross proceeds of up to CAD 4,000,000 on January 15, 2021. The company will receive the funding in multiple tranches of up to CAD 250,000 over a period of 24 months. Each unit consists of one common share and one common share purchase warrant of the company, at discounts between 15 and 25% of the closing price of the common shares on the day prior to the company's tranche drawdown notice to the investor. The exercise price of the warrants will be at a 25% premium over market at the time of the issuance and the warrants will have a term of 36 months. Each tranche may be subject to approval of the TSX Venture Exchange. All securities to be issued in the transaction will be subject to a statutory hold period of four months and one day from the date of issuance. The company will not pay any finder's fees in the transaction.