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| Home : AXMIN Amends Subscription Agreement With Dickson Resources Limited |
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Mar 27
2013 |
AXMIN Amends Subscription Agreement With Dickson Resources Limited |
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TORONTO, ONTARIO--(Marketwire - March 27, 2013) - AXMIN Inc. (TSX VENTURE:AXM) ("AXMIN" or the "Company") is pleased to announce that it has amended its subscription agreement (the "Agreement") with Dickson Resources Limited ("Dickson"), whereby AXMIN is proceeding with a private placement to raise aggregate gross proceeds of approximately C$6.75 million by way of a two stage private placement (the "Offering"). The Company will issue an aggregate of 45,000,000 Units (the "Units") at a price of C$0.15 per Unit. Each Unit will consist of one common share and one-half of one common share purchase warrant with each whole warrant entitling the holder to acquire at any time following the receipt of shareholder approval until the date that is two years following the date of shareholder approval one common share for C$0.15 per common share. If the shareholder approval is not obtained, the warrants will expire unexercised. The first tranche of the Offering will consist of 15,800,000 Units for gross proceeds of approximately C$2.37 million on terms set out below. This represents a 25% premium on AXMIN's share price as of March 22, 2013. The remaining C$4.38 million (the "Escrow Amount") will be placed in escrow by Dickson. |
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| Source:http://www.marketwire.com/mw/release.do?id=1772610&sourceType=3 |
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