Axmin Closes Final Tranche of the Offering With Dickson Resources Limited

Axmin Closes Final Tranche of the Offering With Dickson Resources Limited 
TORONTO, ONTARIO -- (Marketwired) -- 05/24/13 -- AXMIN Inc. (TSX
VENTURE:AXM) ("AXMIN" or the "Company") is pleased to announce that
following the Special Meeting of Shareholders on May 23, 2013, the
final tranche of the previously announced private placement (the
"Offering") has closed. A total of 29,200,000 Units have been issued
to Dickson Resources Limited ("Dickson") today for gross proceeds of
approximately C$4.38 million, less commission and expenses. The
proceeds have been released from escrow by the subscriber Dickson.
Each Unit consists of one common share and one-half of one common
share purchase warrant with each whole warrant entitling the holder
to acquire at any time until May 23, 2015 one common share for C$0.15
per common share.  
The common shares and warrants are subject to a four month hold
period, expiring on September 25, 2013. Post-completion of the
Offering AXMIN will have at total of 108,940,881 common shares issued
and outstanding. In connection with the Offering to Dickson, AXMIN
has agreed to pay to CWN Capital Inc. ("CWN") a cash finders fee
equal to 8% of the gross proceeds raised from Dickson on each Closing
Date and warrants to acquire common shares equal to 8% of the common
shares issued on each Closing Date for $0.15 per common share with
such warrants expiring two years from the date of issue. AXMIN has
also agreed to pay to CWN a solicitation fee equal to 8% of the
aggregate exercise price of warrants issued to Dickson pursuant to
the Offering that are exercised prior to December 31, 2014. 
Board of Directors Changes  
AXMIN would also like to announce the following changes to the Board
of Directors pursuant to the terms of the subscription agreement
dated March 26, 2013 between AXMIN and Dickson. The changes to the
composition of the Board are expected to help AXMIN access other
opportunities that have the potential of providing a superior return
to its shareholders. 
Robert Shirriff and Alex du Plessis have agreed to step down as
directors effective May 24, 2013. AXMIN's management and board would
like to thank both Robert and Alex for their guidance and important
contributions during their respective terms and wish each all the
best with their future endeavours. 
Bright Chiu, a Dickson nominee, has been appointed to the Board,
effective May 24, 2013. Mr. Chiu has an MSc from the highly respected
Shanghai Jiao Tong University and an MBA from the University of
Illinois in Chicago. Bright is a respected business consultant with
over 12 years of international finance and business experience.
Bright brings important financial expertise and perspective to the
Board and we look forward to working with him. 
About Dickson:  
Dickson Resources Limited is an international private resources firm
backed by the private capital of its founders. The company is a BVI
registered company headquartered in Hong Kong. Having a team of
geological and financial experts, Dickson is committed to investing
internationally in the exploration and mining of natural resources.
Meanwhile Dickson's scope of business reaches beyond the mining
sector to international trade, marketing and advisory services which
are all part of its business expertise. 
About AXMIN:  
AXMIN is a Canadian exploration and development company with a strong
focus on central and West Africa. AXMIN has projects in Central
African Republic, Mozambique and Senegal. AXMIN is positioned to grow
in value as it progresses its Passendro Gold Project towards
development and builds on its project pipeline focusing on
transitioning from an explorer to producer. For more information
regarding AXMIN visit our website at www.axmininc.com. 
This press release includes certain "Forward-Looking Statements." All
statements, other than statements of historical fact included herein,
including without limitation, statements regarding future plans and
objectives of AXMIN; and statements regarding the ability to develop
and achieve production at Passendro are forward-looking statements
that involve various risks and uncertainties. 
There can be no assurance that such statements will prove to be
accurate and actual results and future events could differ materially
from those anticipated in such statements. Important factors that
could cause actual results to differ materially from AXMIN's
expectations have been disclosed under the heading "Risk Factors" and
elsewhere in AXMIN's documents filed from time-to-time with the TSX
Venture Exchange and other regulatory authorities. AXMIN disclaims
any intention or obligation to update or revise any forward-looking
statements whether resulting from new information, future events or
otherwise, except as required by applicable law. 
Neither 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. 
Contacts:
AXMIN Inc.
George Roach
President & CEO
+44 779 626 3999 
AXMIN Inc.
Judy Webster
Vice President Investor Relations
416 368 0993 ext 221
ir@axmininc.com
www.axmininc.com
 
 
Press spacebar to pause and continue. Press esc to stop.