Asiamet Resources Limited Asiamet Closes Private Placement - Significant Shareholders Increase Shareholdings

 
TIDMARS 
 
 
   Asiamet Resources Limited (the "Company") is pleased to announce that it 
has closed a brokered private placement announced on December 6, 2016. 
The Company has issued and settled through CREST 86,956,521 common 
shares at a price of GBP 2.3 pence per share for total gross proceeds of 
GBP2 million (equivalent to approximately CDN $3.7 million at CDN $0.04 
per share). 
 
   The Company paid an aggregate of GBP79,940 in fees to the broker and 
issued 3,475,652 common shares purchase warrants to the broker with each 
warrant exercisable at a price of C$0.05 per share for a period of two 
years (expiring December 23, 2018. The participating investors include 
clients of the Company's UK broker agent, Optiva Securities Limited. 
The common shares issued and any common shares issued on exercise of the 
broker warrants are restricted from trading in Canada through the TSX 
Venture Exchange until April 24, 2017. 
 
   The Admission to AIM and dealings in the placement shares will commence 
on December 23, 2016.  Asiamet now has the following shares, options and 
warrants on issue: 
 
 
   -- 709,940,689 fully paid ordinary shares 
 
   -- 4,282,200 C$0.10 options expiring 1 July 2018 
 
   -- 3,050,000 C$0.05 options expiring 6 October 2019 
 
   -- 9,250,000 C$0.05 options expiring 31 August 2020 
 
   -- 10,500,000 C$0.065 options expiring 1 November 2021 
 
   -- 1,708,746 C$0.12 warrants expiring 13 May 2017 
 
   -- 5,416,666 C$0.05 warrants expiring 1 June 2017 
 
   -- 1,874,364 C$0.05 warrants expiring 5 November 2017 
 
   -- 2,147,581 C$0.06 warrants expiring 26 April 2018 
 
   -- 3,533,747 C$0.10 warrants expiring 13 April 2019 
 
   -- 3,475,652 C$0.05warrants expiring December 23, 2018 
 
 
 
 
   The Chief Executive Officer of the Company, Antony Manini, a Director 
and the Deputy Chair, and Stephen Hughes, a Director and Vice President 
Exploration notified the Company on December 23, 2016 that they acquired 
5,217,391 shares and 1,739,130 shares respectively of the Company at a 
price of GBP 2.3 pence per share as participants in the placement. 
 
   Following the placement Mr. Manini will directly and indirectly hold 
26,376,391 (3.7%) common shares in the Company by way of 156,902 
directly, 10,772,117 common shares held by Antman Holding Pty Ltd and 
15,447,372 common shares held by A.J.M. Investco Pty Ltd.  Mr. Hughes 
will hold 2,771,377 (0.4%) common shares. 
 
   Substantial shareholders Asipac Group Pty Ltd. ("Asipac") and Namarong 
Investments Pty calculation Ltd. ("Namarong") increased their respective 
shareholdings in the Company. Asipac purchased 13,043,480 common shares 
and now owns 34,471,480 common shares (4.86%) in the Company while 
Namarong purchased 8,695,650 common shares and now owns 29,124,767 
common shares (4.10%) in the Company.  The Company notes that due to a 
calculation error the last notified total shareholding of Namarong 
(refer ARS news release November 15, 2016) was overstated by 2,708,214 
common shares.  This has been corrected in the figures above. 
 
 
 
   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] / [e-mail] 
 
 
 
   Asiamet Resources Nominated Adviser 
 
   RFC Ambrian Limited 
 
   Andrew Thomson / Oliver Morse 
 
   Telephone: [phone] 
 
   Email: [e-mail] / [e-mail] 
 
   VSA Capital Limited 
 
   Andrew Raca / Justin McKeegan 
 
   Telephone: [phone] 
 
   Email: [e-mail] 
 
   Optiva Securities Limited 
 
   Christian Dennis 
 
   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 23, 2016 02:01 ET (07:01 GMT)

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