ALX Resources Corp. Applies to Amend Warrant Terms

ALX Resources Corp. ( TSXV: AL ) (FSE: 6LLN) (OTC: ALXEF) ("ALX" or the "Company") announced that it has made an application to the TSX Venture Exchange (the "TSXV") to amend the terms of an aggregate of 19,219,733 outstanding share purchase warrants (the "Warrants"), which were issued in connection with a non-brokered private placement (the "Offering") (see ALX news releases dated October 2, 2020 and October 20, 2020).

The Company is seeking to extend the term of the Warrants for an additional year. Warrants issued in the first tranche of the Offering would be extended to October 2, 2023, and the Warrants issued in the second tranche of the Offering would be extended to October 20, 2023. The exercise price of the Warrants will remain unchanged, at $0.10 per Warrant.

The application to extend the expiry date of the Warrants is subject to acceptance by the TSXV.

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