AXMIN Inc.
TSX VENTURE : AXM

AXMIN Inc.

May 23, 2013 17:40 ET

AXMIN Announces Shareholder Support for Control Person Resolution at Special Meeting of Shareholders

TORONTO, ONTARIO--(Marketwired - May 23, 2013) - AXMIN Inc. (TSX VENTURE:AXM) ("AXMIN" or the "Company") is pleased to report that at the Special Meeting of Shareholders held today, the Company's shareholders voted overwhelmingly in favour of the resolution (the "Control Person Resolution") approving the creation of a new Control Person (as defined under the TSX Venture Exchange Corporate Finance Manual), being Dickson Resources Limited ("Dickson"), who upon closing of the previously disclosed private placement (the "Offering"), will own 41.3% of the common shares of the Company. It is a condition of closing of the second tranche of the Offering that AXMIN obtain shareholder approval of the Control Person Resolution. The second tranche of the Offering is anticipated to close on May 24, 2013.

The voting results in respect of the Control Person Resolution were as follows:

  • Votes cast by common shareholders included 21,104,103 votes FOR, representing 98.66% of votes cast and 287,128 votes AGAINST representing 1.34% of votes cast.

President and CEO of AXMIN, Mr. George Roach, comments, "We are pleased that our shareholders have supported the transaction with Dickson and it reaffirms management's belief that Dickson has both the financial resources and extensive international mining expertise to ensure that the Passendro Gold mine is developed."

About Dickson:

Dickson Resources Limited is an international private resources firm backed by the private capital of its founders. The company is a BVI registered company headquartered in Hong Kong. Having a team of geological and financial experts, Dickson is committed to investing internationally in the exploration and mining of natural resources. Meanwhile Dickson's scope of business reaches beyond the mining sector to international trade, marketing and advisory services which are all part of its business expertise.

About AXMIN:

AXMIN is a Canadian exploration and development company with a strong focus on central and West Africa. AXMIN has projects in Central African Republic, Mozambique and Senegal. AXMIN is positioned to grow in value as it progresses its Passendro Gold Project towards development and builds on its project pipeline focusing on transitioning from an explorer to producer. For more information regarding AXMIN visit our website at www.axmininc.com.

This press release includes certain "Forward-Looking Statements." All statements, other than statements of historical fact included herein, including without limitation, statements regarding future plans and objectives of AXMIN; and statements regarding the ability to develop and achieve production at Passendro 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 AXMIN's expectations have been disclosed under the heading "Risk Factors" and elsewhere in AXMIN's documents filed from time-to-time with the TSX Venture Exchange and other regulatory authorities. AXMIN disclaims any intention or obligation to update or revise any forward-looking statements whether resulting from new information, future events or otherwise, except as required by applicable law.

Neither 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 release.

Contact Information

  • AXMIN Inc.
    George Roach
    President & CEO
    Direct: +44 779 626 3999

    AXMIN Inc.
    Judy Webster
    Vice President Investor Relations
    416 368 0993 ext 221
    ir@axmininc.com
    www.axmininc.com