Alphamin Resources Corp.
TSX VENTURE : AFM

Alphamin Resources Corp.

August 19, 2015 16:00 ET

Alphamin Resources Announces Non-Brokered Private Placement

PORT LOUIS, MAURITIUS--(Marketwired - Aug. 19, 2015) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

Alphamin Resources Corp. ("Alphamin" or the "Company") (TSX VENTURE:AFM) announced that it intends to proceed with a non-brokered private placement of units ("Units") to raise gross proceeds of up to C$6,500,000 (the "Financing"). The Units will be offered at a price of C$0.20 per Unit and each Unit will consist of one common share of the Company and one-third of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder to acquire one additional common share of the Company at a price of C$0.25 for a period of 12 months following the closing of the Financing. The Company anticipates that insiders of Alphamin may subscribe for up to 100% of the Financing. Net proceeds from the Financing will be used for the continued funding of a definitive feasibility study (DFS), further exploration work and, subject to positive completion of the DFS, preliminary mine construction work on the Corporation's Bisie Tin Prospect in east central Democratic Republic of Congo and for working capital and general corporate purposes.

The Financing is expected to be completed on or about 31 August 2015 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.

The securities referred to in this press release have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in the United States or in any jurisdiction in which such offer, sale or solicitation would be unlawful.

ON BEHALF OF THE BOARD OF DIRECTORS

Charles Needham, Chairman

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.

Contact Information

  • Alphamin Resources Corp.
    Charles Needham
    Chairman
    + 27 11 646 0264 or + 27 82 411 9977