Asiamet Resources Limited Asiamet Bought Deal Private Placement To Fund Feasibility Study

 
TIDMARS 
 
 
   Asiamet Resources Limited (the "Company") is pleased to announce that 
through clients of Optiva Securities Limited and existing shareholders, 
including certain insiders, the Company has received commitments to 
purchase 86,956,521 common shares at a price of GBP0.023 per share for 
total gross proceeds of approximately GBP2 million (approximately 
equivalent to CDN 3.4 million at CDN $0.04 per share).  The offering is 
a brokered private placement and the common shares will be issued and 
settled in CREST. 
 
   Asiamet Resources CEO Tony Manini commented: 
 
   "Over the past 18 months very significant progress has been made in 
de-risking the Asiamet assets and advancing the Company from pure 
explorer to potential developer status. Supported by the excellent 
technical results received to date, our highly experienced team are well 
positioned to deliver the feasibility study for our flagship BKM 
("Beruang Kanan Main") project in 2017. 
 
   Globally there are very few listed junior companies with a high quality 
development-ready copper project at a time when the copper market is 
widely predicted to move into a structural supply deficit over the next 
2-3 years. By advancing the BKM feasibility study through the 
development curve using the proceeds of the placement, Asiamet will be 
very well positioned to take advantage of the forecast increase in 
copper prices associated with this predicted supply deficit, and a 
rising level of investor and strategic interest in gaining exposure to 
copper producers and developers. 
 
   As copper prices have begun to lift from their cyclical low point, we 
have already seen much higher levels of inbound interest in our Company 
and projects from a variety of institutional investors, private equity 
groups, copper traders and end users, and other mining companies. 
Asiamet is now in a solid financial position to continue de-risking the 
BKM project and advancing options for funding the project and Company 
through its next stage of development. 
 
   Many of Asiamet's loyal and highly supportive shareholders have added to 
their investment in the Company, and we have also introduced several new 
sophisticated investors with a strong understanding of the mining 
development cycle and the significant value that can be attained from 
investing at this crucial stage of the development curve. 
 
   We look forward to building on the strong momentum established over the 
past year with a continued flow of news from the ongoing feasibility 
work program at BKM, strategic initiatives relating to partnering and 
funding, and from de-risking and advancing the Beutong and Jelai 
projects." 
 
   Placing Details 
 
   The placement shares will be fully paid and will rank pari passu in all 
respects with the existing common shares in the Company.  Application 
has been made for the placement shares to be admitted to trading on AIM 
("Admission") and to be listed on the TSX Venture Exchange.  It is 
expected that Admission will become effective and that dealings in the 
placement shares will commence on or around December 20, 2016.  The 
total number of common shares in issue following completion of the 
placement will be 709,940,689. 
 
   The private placement is subject to compliance with applicable 
securities laws and to the receipt of regulatory approval. The Company 
will pay broker fees in connection with the private placement in 
accordance with the policies of the TSX Venture Exchange.  The private 
placement will not be conducted in North America and the shares placed 
will be settled through CREST. 
 
   ON BEHALF OF THE BOARD OF DIRECTORS 
 
   Tony Manini, Deputy Chairman and CEO 
 
   For further information please contact: 
 
 
 
   -Ends- 
 
   Tony Manini 
 
   Deputy Chairman and CEO, Asiamet Resources Limited 
 
   Telephone: [phone] 
 
   Email: [e-mail] 
 
   FlowComms Limited 
 
   Sasha Sethi 
 
   Telephone: [phone] 
 
   Email: [e-mail] 
 
   Asiamet Resources Nominated Adviser 
 
   RFC Ambrian Limited 
 
   Andrew Thomson / Oliver Morse 
 
   Telephone: [phone] 
 
   Email: [e-mail] / [e-mail] 
 
   Optiva Securities Limited 
 
   Christian Dennis 
 
   Telephone: [phone] 
 
   Email: [e-mail] 
 
   VSA Capital Limited 
 
   Andrew Raca / Justin McKeegan 
 
   Telephone: [phone] 
 
   Email: [e-mail] 
 
   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. 
 
   United States Advisory 
 
   The securities referred to herein have not been and will not be 
registered under the United States Securities Act of 1933, as amended 
(the "U.S. Securities Act"), have been offered and sold outside the 
United States to eligible investors pursuant to Regulation S promulgated 
under the U.S. Securities Act, and may not be offered, sold, or resold 
in the United States or to, or for the account of or benefit of, a U.S. 
Person (as such term is defined in Regulation S under the United States 
Securities Act) unless the securities are registered under the U.S. 
Securities Act, or an exemption from the registration requirements of 
the U.S. Securities Act is available. Hedging transactions involving the 
securities must not be conducted unless in accordance with the U.S. 
Securities Act. This press release shall not constitute an offer to sell 
or the solicitation of an offer to buy any securities, nor shall there 
be any sale of securities in the state in the United States in which 
such offer, solicitation or sale would be unlawful. 
 
   This news release contains forward-looking statements that are based on 
the Company's current expectations and estimates. Forward-looking 
statements are frequently characterized by words such as "plan", 
"expect", "project", "intend", "believe", "anticipate", "estimate", 
"suggest", "indicate" and other similar words or statements that certain 
events or conditions "may" or "will" occur. Such forward-looking 
statements involve known and unknown risks, uncertainties and other 
factors that could cause actual events or results to differ materially 
from estimated or anticipated events or results implied or expressed in 
such forward-looking statements.   Such factors include, among others: 
the actual results of current exploration activities; conclusions of 
economic evaluations; changes in project parameters as plans continue to 
be refined; possible variations in ore grade or recovery rates; 
accidents, labour disputes and other risks of the mining industry; 
delays in obtaining governmental approvals or financing; and 
fluctuations in metal prices.  There may be other factors that cause 
actions, events or results not to be as anticipated, estimated or 
intended.  Any forward-looking statement speaks only as of the date on 
which it is made and, except as may be required by applicable securities 
laws, the Company disclaims any intent or obligation to update any 
forward-looking statement, whether as a result of new information, 
future events or results or otherwise. Forward-looking statements are 
not guarantees of future performance and accordingly undue reliance 
should not be put on such statements due to the inherent uncertainty 
therein. 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Asiamet Resources Limited via Globenewswire 
 
 
  http://www.asiametresources.com 
 

(END) Dow Jones Newswires

December 06, 2016 02:00 ET (07:00 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.