AIM Resources Limited
ASX : AIM
AIM : AIMR

AIM Resources Limited

November 12, 2007 11:43 ET

AIM Resources Announces a Private Placement of Convertible Debentures

SYDNEY, AUSTRALIA--(Marketwire - Nov. 12, 2007) -

NOT FOR DISTRIBUTION IN THE UNITED STATES.

AIM Resources Limited ("AIM") (ASX:AIM)(AIM:AIMR) is pleased to announce its intent to offer and sell up to A$50.0 million of convertible debentures (the "Debentures"), due December 19, 2012, at a par, for gross proceeds of up to A$50.0 million (the "Offering"). The Debentures will pay interest semi-annually and will be convertible into ordinary shares of AIM in accordance with its terms.

Westwind Partners Inc. will act as lead agent for a syndicate including Cormark Securities Inc. and MGI Securities Inc. (the "Agents"). The Agents have been granted an option to sell an additional A$20,000,000 of Convertible Debentures on the same terms as the Offering, exercisable at any time prior to 30 days after closing of the Offering. The Offering is expected to be completed in two tranches, with the first tranche scheduled to close on or about December 18th, 2007 and the second tranche to close following shareholder approval at an extraordinary general meeting. The Offering will be subject to customary conditions to closing, including the approval of any relevant stock exchange.

The net proceeds of the private placement will be used for funding the ongoing exploration and development of the Perkoa Zinc Mine as well as exploration and general corporate purposes.

AIM is focused on the acquisition and responsible development of major mining ventures in Africa. AIM is exploring and/or developing the Perkoa Zinc Project in Burkina Faso, the Mumbwa Copper-Gold Project in Zambia and the Mokopane Nickel-Platinum Project in South Africa while evaluating
other projects.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.

AIM Resources Limited is listed on the ASX with the symbol "AIM" and on the Alternative Investment Market with the symbol "AIMR".

Contact Information

  • AIM Resources Limited
    Marc Flory
    Managing Director
    +61 2 9357 9000
    +61 2 9332 1336 (FAX)
    or
    AIM Resources Limited
    Chris Brown
    CFO and Company Secretary
    +61 2 9357 9000
    +61 2 9332 1336 (FAX)
    or
    AIM Resources Limited
    Vic Bradley
    (416) 363-8238
    (416) 363-7238 (FAX)
    Email: info@aimresources.com.au
    Website: www.aimresources.com.au