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BRIEF-Alphamin Resources Proposes Private Placement Of Up To US$35 Mln

Published 2020-04-28, 02:54 a/m

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

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