Business
Alphamin Resources: Project Funding Update
GRAND BAIE, MAURITIUS--(Marketwired - May 16, 2017) - Alphamin Resources Corp. (TSX VENTURE:AFM) ("Alphamin", or the "Company") is pleased to announce that it h
About this update from Alphamin Resources Corp.
[{"type":"text","content":"GRAND BAIE, MAURITIUS--(Marketwired - May 16, 2017) - Alphamin Resources Corp. (TSX VENTURE:AFM) (\"Alphamin\", or the \"Company\") is pleased to announce that it has executed non-binding term sheets for US$ 80 million of project debt. DEBT FINANCING Alphamin is pleased to announce that it has executed non-binding term sheets in connection with the provision of US$ 80 million of project debt for its Bisie Tin Project (\"the Project\"). The term sheets are indicative, subject to conditions precedent customary for facilities of this nature, including required regulatory approvals, and do not constitute binding commitments on either Alphamin or the potential lenders. Alphamin is working dilligently towards securing unconditional commitments from the potential lenders, and will update the market as soon as more information is available. The can be no assurance that the Company will be successful in obtaining binding commitments or in completing the required debt financing for the Project. Alphamin's CEO, Boris Kamstra commented: \"I am delighted with the latest developments on the debt portion of the overall funding package. I am confident that the potential lenders' due diligence processes will be completed to their satisfaction, and look forward to working together with the parties in order to timeously secure unconditional commitments for these facilities.\" MORE INFORMATION ON ALPHAMIN RESOURCES CORP.: Alphamin is a tin exploration and development company with the vision to be respected in the international tin sector by unleashing the full profit and potential of its world-class tin asset in North Kivu, DRC currently under development. Alphamin has the vision to become a premier tin producer by: Leading a world-class, profitable mining company in North Kivu, delivering results for the benefit of all stakeholders and viewed with respect by the communities and Government. Becoming a profitable tin producer, while continuing with exploration to increase life of mine. ABM intends to operate a profitable tin mine in a safe environment while uplifting the local community. Alphamin is striving to develop the first, low-cost per tonne tin, industrial mine in North Kivu, while at the same time making a marked, positive impact on the communities surrounding the mine. We intend to be a tin mining company that excels at the production...