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TORONTO, ONTARIO--(Marketwire - Oct. 12, 2012) - Pala Investments Limited ("Pala") is pleased to announce that on October 11, 2012 it entered into a subscription agreement (the "Subscription Agreement") with Asian Mineral Resources Limited ("AMR") to purchase 150,000,000 common shares of AMR (the "Shares") on a private placement basis at CDN$0.06 per Share for a total consideration of CDN$9,000,000, subject to the satisfaction of certain conditions (the "Pala Private Placement"). Under the terms of the Subscription Agreement and, in accordance with Multilateral Instrument 61-101 of the Canadian Securities Administrators, minority approval will be sought at a special meeting of AMR shareholders to be held on November 28, 2012. |
