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Asiamet Bought Deal Private Placement

The placement was oversubscribed. The offering is a brokered private placement and the common shares will be issued and settled in CREST. 

Asiamet Resources CEO Tony Manini commented:

"Following the recent release of our highly compelling PEA results for the BKM deposit, Asiamet is very pleased with the strong level of support it has received from both existing and new investors for this oversubscribed capital raising on terms considered to be favorable for all shareholders. 

While very significant progress has been made in advancing Asiamet from a pure explorer to an explorer-developer over the past year, the Company considers that its assets are still substantially under-valued. As such we intend to push the BKM project through feasibility studies using a staged approach to progressively capture value for shareholders as various milestones are met. Simultaneously we will be advancing discussions with potential funding partners at both the corporate and project level. 

The 2016 program at BKM will focus on long lead time items for the bankable feasibility studies and exploration and resource drilling to increase potential mine life including:

  • Infill drilling to upgrade part of the BKM Resource to measured and indicated confidence levels with the aim of demonstrating a +10 year life for BKM
  • Further exploration work on high potential prospects BKS, BKW and BKZ nearby BKM where excellent targets for additional copper mineralization are demonstrated by strong surface and scout drilling results returned to date
  • Additional drilling for metallurgy samples, stage 3 short and long column copper leach testwork and Environmental Impact Assessment (AMDAL)
  • PFS level project option analysis, optimisation of the various inputs to further enhance project economics, and value engineering studies
  • Finalising the Beutong and Jelai licence conversions from exploration to production stage and continuing to work on establishing opportunities for strategic or commercial partnering on both projects.

We look forward to building on the strong momentum established over the past year with a continued flow of news from ongoing work programs and corporate initiatives aimed at fast tracking development of the BKM project and simultaneously significantly enhancing value for shareholders."

Placing Details

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 April 27, 2016. The total number of common shares in issue following completion of the placement will be 622,984,168.

The private placement is subject to compliance with applicable securities laws and to the receipt of regulatory approval. 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.

The Chief Executive Officer of the Company, Antony Manini, a Director and the Deputy Chair, notified the Company on 21 April, 2016 that he will acquire 322,581 shares of the Company at a price of GBP 3.1 pence per share as a participant in the placement. 

Following the placement Mr. Manini will indirectly hold 14,902,199 (2.4%) common shares in the Company by way of 6,483,566 common shares held by Antman Holding Pty Ltd and 8,418,633 common shares held by A.J.M. Investco Pty Ltd. Mr Manini also directly holds 3,812,554 share purchase warrants (details below) and 3,000,000 options in the Company with an exercise price of CAD $0.05 per share and an expiry date of August 31, 2020.

Warrants             Expiry Date             Ex. Price

611,904             4-Jun-2016             C$0.06

318,579            18-Jun-2016            C$0.06

1,529,761          2-Oct-2016             C$0.10

269,575            13-May-2017           C$0.12

164,878            13-May-2017           C$0.12

917,857            13-Apr-2019            C$0.10



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