Asiamet Resources Limited Statement Re Private Placement

 
TIDMARS 
 
 
   Asiamet Resources Financing 
 
   Highlights 
 
 
   -- Placement of GBP1.0 million to fund completion of a Preliminary Economic 
      Assessment ("PEA") on the Beruang Kanan Main ("BKM") copper deposit and 
      to progress various project and corporate initiatives. 
 
 
   -- Strong support from certain existing large shareholders and sophisticated 
      investors. 
 
 
   Asiamet Resources Limited ("ARS" or the "Company") is pleased to 
announce that it plans to undertake a private placement of up to 
71,428,571 common shares at a price of GBP0.014 per share for total 
gross proceeds of approximately GBP1.0 million (approximately equivalent 
to CDN $2.0 million at CDN $0.028 per share). The Company has received 
commitments predominantly from existing shareholders and sophisticated 
investors for 71,428,571 common shares to be issued and settled in 
CREST. The participating investors include clients of the Company's UK 
broker agents, Optiva Securities Limited. 
 
   It is intended that the proceeds of the private placement will be used 
to fund: 
 
 
   -- A Preliminary Economic Assessment ("PEA") on the Company's Beruang Kanan 
      Main copper deposit ("BKM") within the Company's KSK Contract of Work in 
      Kalimantan, Indonesia. 
 
 
   -- Progress conversion of the Company's Beutong and Jelai exploration 
      licences to exploitation licences. 
 
 
   -- Corporate initiatives relating to the Company's current project portfolio, 
      and general working capital purposes. 
 
 
   Asiamet Resources CEO Tony Manini commented: 
 
   "We are delighted by the support shown by existing and new shareholders 
as we progress the BKM project through the development cycle. Having 
recently completed the Resource update for BKM the focus of our work 
immediately moves to the PEA which is expected to be completed in early 
2016. This is an exciting time for Asiamet and we look forward to 
reporting on the various individual elements of the PEA as they become 
available, together with progress on the conversion of our licences and 
various corporate initiatives aimed at adding value for shareholders. A 
strong ongoing news flow can be expected" 
 
   Placement Details 
 
   The private placement is subject to compliance with applicable 
securities laws and to the receipt of regulatory approval. Insiders may 
participate in the private placement and 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 and as such the TSX Venture Exchange has granted a discretionary 
waiver to its minimum pricing rules. 
 
   The Company will pay fees to brokers who introduced the Company to 
private placement investors with the policies of the TSX Venture 
Exchange. 
 
   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 November 4, 2015. The total number of 
common shares in issue following completion of the placement will be 
574,597,071. 
 
   ON BEHALF OF THE BOARD OF DIRECTORS 
 
   Tony Manini, Deputy Chairman and CEO 
 
   -Ends- 
 
   For further information please contact: 
 
   Tony Manini 
 
   Deputy Chairman and CEO, Asiamet Resources Limited 
 
   Telephone: [phone] 
 
   Email: [e-mail] 
 
   FlowComms Limited 
 
   Sasha Sethi/ Mehrdad Yousefi 
 
   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 announcement is distributed by NASDAQ OMX Corporate Solutions on 
behalf of NASDAQ OMX 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 
 
   HUG#1962801 
 
 
  http://www.asiametresources.com 
 

(END) Dow Jones Newswires

October 30, 2015 02:01 ET (06:01 GMT)

Copyright (c) 2015 Dow Jones & Company, Inc.