AXMIN Inc.
TSX VENTURE : AXM

AXMIN Inc.

May 21, 2010 09:28 ET

AXMIN Receives TSX Venture Exchange Approval for the Loan and Draws Down the AfNat Loan in Full

TORONTO, ONTARIO--(Marketwire - May 21, 2010) - AXMIN Inc. ("the Company") (TSX VENTURE:AXM) is pleased to announce that further to its press release of May 17, 2010, it has received the required approval from the TSX Venture Exchange with regards to the Loan Facility. The Loan Facility is an agreement between AXMIN and AfNat Resources Limited ("AfNat") whereby AfNat agrees to make available to AXMIN a Loan Facility of up to US$450,000, which has been drawn down by AXMIN in two tranches, the first for US$75,000 on May 17, 2010 and the second for US$375,000 on May 20, 2010. Details of the Loan Facility can be found in the above noted press release.

All AXMIN shares issued on conversion of the Loan Facility will be subject to a hold period of four months and a day from the date of the applicable draw downs.

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, Mali, Sierra Leone and Senegal. 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, 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 are disclosed under the heading "Risk Factors" and elsewhere in AXMIN 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 as a result of 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.
    Mario Caron
    President & CEO
    416 368 0993 ext 223
    or
    AXMIN Inc.
    Judy Webster
    Manager Investor Relations
    416 368 0993 ext 221
    ir@axmininc.com
    www.axmininc.com