Brief: Alphamin Resources Proposes Private Placement Of Up To US$35 Mln

Alphamin Resources

28/04/2020 07:54

April 28 (Reuters) - Alphamin Resources Corp  AFM.V :
    * JSE: APH - PROPOSED PRIVATE PLACEMENT, AGREEMENT IN
PRINCIPLE
FOR IMPROVED DEBT TERMS AND INITIATION OF GROWTH PROJECTS
    * ALPHAMIN RESOURCES CORP - PROPOSED NON BROKERED PRIVATE
PLACEMENT OF UP TO US$35M TO SIGNIFICANTLY REDUCE DEBT
    * ALPHAMIN - TO PROCEED WITH NON-BROKERED PRIVATE PLACEMENT
OF
MINIMUM OF 302.1 MILLION SHARES, MAXIMUM OF 352.5 MILLION SHARES
TO RAISE GROSS PROCEEDS
    * ALPHAMIN RESOURCES CORP - PROCEEDS FROM PROPOSED OFFERING
WILL
BE USED PRIMARILY TO PREPAY AT LEAST US$31 MILLION OF PRINCIPAL
UNDER CREDIT FACILITY
    * ALPHAMIN RESOURCES CORP - EXPECTS CONTAINED TIN PRODUCTION
OF
BETWEEN 2,400T AND 2,600T2 FOR QUARTER ENDING JUNE 2020

Source text for Eikon:  ID:nJseb0024a 
Further company coverage:  AFM.V 

 ((Reuters.Briefs@thomsonreuters.com;))