Axmin Inc. Closes Final Tranche of the Private Placement
Vancouver, British Columbia / TheNewswire / March 11, 2015 - Axmin Inc. (TSX VENTURE: AXM) ("AXMIN" or the "Company") is pleased to announce that, further to its press releases dated February 20, 2015 and January 21, 2015, the final tranche of the previously announced private placement (the "Offering") has closed. A total of 12,000,000 Common Shares have been issued to the investor, who subscribed 8,000,000 Common Shares at the first tranche of the Offering, for gross proceeds of C$300,000. The Common Shares are subject to a four month hold period, expiring on July 12, 2015. In connection with the Offering, AXMIN has paid a finder's fee in terms of Common Shares equal to 5% of the gross proceeds raised from the Offering. Post-completion of the Offering AXMIN will have a total of 130,497,381 Common Shares issued and outstanding.
AXMIN's Chairman and CEO, Lucy Yan, comments: "On behalf of the directors and the management, I would like to express our sincere gratitude to all the subscribers, who have offered great support to the Company. The accomplishment of this private placement is a critical milestone that enables the Company to maintain the operations and preserve the Company's major assets, for another fiscal year, within the time phase before the Central African Republic (the "CAR") achieves internal reconciliations and AXMIN is able to resume operations in its Passendro Gold Project and properly secure the site. AXMIN's local team is continually monitoring the situation in the CAR in order for the Company's management fully and timely being informed about any updates. In addition, the Company is actively pursuing further financing options and plans to enhance its current working capital."
About AXMIN
AXMIN is a Canadian exploration and development company with a strong focus on the African continent. AXMIN intends to build on its projects in Senegal and Mozambique, as it continues to monitor the political situation at its Feasibility Stage Passendro Gold Project in the Central African Republic. For more information regarding AXMIN visit our website at www.axmininc.com.
For additional information
Axmin Inc.
Lucy Yan
778 927 7986
ir@axmininc.com
Aaron Hao
a.hao@axmininc.com
www.axmininc.com
This press release includes certain "forward-looking information" within the meaning of applicable Canadian securities legislation. All information, other than statements of historical fact included herein, including without limitation, information regarding future plans and objectives of AXMIN, are forward-looking information that involves various risks and uncertainties.
There can be no assurance that such information will prove to be accurate and actual results and future events could differ materially from those anticipated in such information. 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 information 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.
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