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GRAND BAIE, Mauritius, June 18, 2018 (GLOBE NEWSWIRE) -- Alphamin Resources Corp. (TSX-V:AFM) (“Alphamin” or the “Company”) is pleased to announce that it has raised C$19.2 million (US$15.0 million) by issuing a total of 76,800,000 common shares of the Company (the “Common Shares”) at a price of C$0.25 per Common Share (the “Issue Price”) through the closing of its previously announced non-brokered private placement (the “Private Placement”).
The Private Placement includes a subscription for 65,126,400 Common Shares at the Issue Price by the Company’s major shareholder, Tremont Master Holdings, and a subscription for 512,000 Common Shares at the Issue Price by the Company’s Chief Executive Officer, Boris Kamstra.
The proceeds of the Offering will be applied to the continued development of the Company’s 80.75% owned Bisie Tin Project and for general corporate purposes.
The Common Shares issued pursuant to the Private Placement are subject to a minimum hold period of four months and one day from the date of issuance, expiring on October 19, 2018.
The securities have not been and will not be registered under the United States Securities Act of 1933 (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.
FOR MORE INFORMATION, PLEASE CONTACT:
Chief Executive Officer
Alphamin Resources Corp.
Tel: +230 269 4166
Grand Baie, Mauritius
CAUTION REGARDING FORWARD LOOKING STATEMENTS
Information in this news release that is not a statement of historical fact constitutes forward-looking information. Forward-looking statements contained herein include, without limitation, the anticipated use of the proceeds from the Private Placement and final approval of the TSX Venture Exchange. Forward-looking statements are based on assumptions management believes to be reasonable at the time such statements are made. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Although Alphamin has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. Factors that may cause actual results to differ materially from expected results described in forward-looking statements include, but are not limited to those risk factors set out in the Company’s Management Discussion and Analysis and other disclosure documents available under the Company’s profile at www.sedar.com. Forward-looking statements contained herein are made as of the date of this news release and Alphamin disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.
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 news release.