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TORONTO, ONTARIO--(Marketwire - April 4, 2012) - AXMIN Inc. (TSX VENTURE:AXM) ("AXMIN" or the "Company") is pleased to announce that it has entered into an agreement with United Reef Limited (TSX VENTURE:URP) ("United Reef") to repurchase for cancellation a 2% net smelter royalty ("NSR") in respect of the Passendro licence area in consideration for the issuance of 447,038 common shares of AXMIN (the "Transaction"). The Transaction is expected to close on or about April 12, 2012. The royalty interest had previously been granted to United Reef by Asquith Resources Inc., an AXMIN predecessor company, pursuant to a purchase agreement dated January 25, 1996, and as amended on May 19, 1999. |
