Asian Mineral Resources Announces Private Placement
July 16 2019 - 10:02AM
Asian Mineral Resources Limited (the “Company”)
(ASN-TSXV) announces its intention to undertake a non-brokered
private placement of up to 13,333,333 units at a price $0.075 per
unit, for aggregate gross proceeds of up to $1,000,000. Each
unit will consist of one common share of the Company, and one
common share purchase warrant entitling the holder to acquire one
common share at a price of $0.10 per common share for 24 months
following the closing. All securities issued pursuant to the
private placement will be subject to a four-month hold period.
All of the $360,000 in subscription advances disclosed in the
Company’s October 11, 2018 press release are expected to re-invest
under the placement. Proceeds of the private placement will be used
to settle outstanding debts and to investigate new business
opportunities. It is not anticipated that any finder’s fees
will be paid in connection with the placement. Finalization of the
placement is subject to receipt of TSX-Venture Exchange
approval.
For further information:
Paula KemberChief Financial OfficerTelephone: +1 (416)
360-3412
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 release.
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