AXMIN-New Financial Institutions Join Debt Financing
TORONTO, ONTARIO -- (Marketwire) -- 01/26/12 -- AXMIN Inc. (TSX VENTURE: AXM) ('AXMIN' or the 'Company') is delighted to announce the signing of four debt Mandate Letters for US$85 million. This in addition to the Standard Bank's Mandate makes a total debt facility of US$185 million for the purposes of partially funding the development of the Passendro Gold project in the Central African Republic.
These new financial institution commitments to arrange the financing are subject to satisfactory technical, legal and environmental due diligence, execution of acceptable terms and documentation and obtaining final credit and board approvals.
President and CEO of AXMIN, Mr. George Roach, comments, 'AXMIN with the assistance of Endeavour Financial is diligently working towards meeting the requirements set out in the banking syndicate's indicative term sheets. This represents the majority of the senior debt and now allows us to focus on the remainder of our capital requirements.'
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, to revalidate the BFS and to satisfy the terms of the Mining Licence as negotiated, 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
Manager Investor Relations
416 368 0993 ext 221
ir@axmininc.com
www.axmininc.com
