Afri-Can Announces $3 Million Financing
(firmenpresse) - MONTREAL, QUEBEC -- (Marketwire) -- 04/12/12 -- Editors Note: There is a map associated with this press release.
Afri-Can Marine Minerals Corporation ("Afri-Can") (TSX VENTURE: AFA) announces that it has entered into a financing agreement ("The Agreement") with Trinity Assets Management International Ltd. ("Trinity") of Mauritius. Trinity agrees to subscribe in a private placement of $3 million in Afri-Can under the following terms and conditions:
The Agreement and private placement is subject to the approval of the TSX Venture Exchange.
Proceeds from the private placement will be used for geophysical surveying and sampling in anticipation of trial mining on specific areas of marine diamond Exclusive Prospecting Licence ("EPL") 3403 in Namibia and for general operating expenses.
The geophysical survey will start before the end of April, 2012 and we will advise shareholders of the exact departure date in due course.
Mr. Pierre Leveille, President and CEO of Afri-Can, stated that, "The Agreement announced today establishes several key pillars for the future growth of Afri-Can. It enables us to proceed with development of EPL 3403 and complete the acquisition of 100% ownership of EPL 3403. It brings strongly motivated investors to assist with development of marine diamonds. The proposed share consolidation will establish Afri-Can on a stronger trading, financial and development basis."
EPL 3403 covers approximately 800 square kilometres and is adjacent to and north of the Atlantic One Mining Lease ("ML") 47 (owned by Namdeb Diamond Corporation (Pty) Limited, a 50:50 partnership between the Government of the Republic of Namibia and De Beers Centenary AG), which is the largest marine diamond deposit in the world (see attached map). ML 47 currently produces in excess of 1,100,000 carats per year.
About Afri-Can Marine Minerals Corporation
Afri-Can is a Canadian company, actively involved in the acquisition, exploration and development of major properties in Namibia. Afri-Can's creative and scientific approach targets large marine diamond deposits in prospective territories.
This press release contains certain "forward-looking statements," as identified in the Afri-Can's periodic filings with Canadian Securities Regulators that involve a number of 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.
To view the map associated with this press release, please visit the following link: .
Shares outstanding: 238,524,984
Neither the 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:
Pierre Leveille
President & CEO
(514) 846-2133 / TOLL FREE North America: 1 (866) 206-7475
(514) 372-0066 (FAX)
Bernard J. Tourillon
Executive V.P. and CFO
(514) 846-2133 / TOLL FREE North America: 1 (866) 206-7475
(514) 372-0066 (FAX)
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Datum: 12.04.2012 - 13:17 Uhr
Sprache: Deutsch
News-ID 134395
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contact information:
Town:
MONTREAL, QUEBEC
Kategorie:
Mining & Metals
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"Afri-Can Announces $3 Million Financing"
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