TORONTO, ONTARIO--(Marketwired - July 2, 2013) - Asian Mineral Resources Limited ("AMR") (TSX VENTURE:ASN) announces that it has entered into share compensation agreements (the "Compensation Agreements") with certain of its directors to receive payment of directors' fees in the form of common shares of AMR ("Shares") in lieu of cash payment. The Compensation Agreements are subject to the approval of the TSX-V.
Under the terms of the Compensation Agreements, Jan Castro and Michael Brown will be issued with such number of Shares calculated based on the volume weighted average trading price of the Shares on the TSX-V for the twenty trading days immediately preceding the applicable quarter-end of each calendar quarter commencing from July 1, 2013. The Shares will be subject to a hold period of four months in accordance with the policies of the TSX-V.
Company Profile:
Asian Mineral Resources Limited is a Canadian TSX-V mining company with a nickel producing mine, the Ban Phuc Nickel Project, located 160 km north-west of Hanoi in Son La Province. The project recently commenced production at the end of June 2013. For further details on AMR and the Ban Phuc Nickel Project, please refer to the company website at www.asianminres.com.
Forward-Looking Statements
This press release includes certain "Forward-Looking Statements." All statements, other than statements of historical fact, included herein, including without limitation, statements regarding completion of the project and the achievement of expected benefits, potential mineralization and reserves, exploration results and future plans and objectives of AMR are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from AMR's expectations are disclosed under the heading "Risk Factors" in AMR's Annual Information Form and elsewhere in AMR's documents filed from time-to-time with the TSX Venture Exchange and other regulatory authorities. Forward- looking statements are qualified entirely by this cautionary statement and are given only as at the date of this press release. AMR disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact Information:
Paula Kember
Chief Financial Officer
+1 (416) 360-3412