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Alphamin announces receipt of proceeds from subsidiary distribution and warrant exercises
Alphamin Resources Corp.
Continued in the Republic of Mauritius
Date of incorporation: 12 August 1981
Corporation number: C125884 C1/GBL
TSX-V share code: AFM
JSE share code: APH
ISIN: MU0456S00006
ALPHAMIN ANNOUNCES RECEIPT OF PROCEEDS FROM SUBSIDIARY
DISTRIBUTION AND WARRANT EXERCISES
MAURITIUS – December 24, 2021 – Alphamin Resources Corp. (AFM:TSXV, APH:JSE
AltX)( “Alphamin” or the “Company”), a producer of 4% of the world’s mined tin1 from its high
grade operation in the Democratic Republic of Congo, is pleased to announce that its 84,14%
owned operating subsidiary, Alphamin Bisie Mining SA (“ABM”), has completed a distribution
to shareholders of US$35m. The Company has received approximately US$29.5m of this
distribution.
In addition, as a result of recent exercises of share purchase warrants issued by the Company
in April 2019 and which expire on April 8, 2022, the Company has now received aggregate
proceeds of approximately CDN$20.2 million from the exercise of such warrants. The warrants
are exercisable at a price of CDN$0.30 per share and if all remaining outstanding warrants are
exercised prior to expiry, proceeds of an additional approximate CDN$2.8 million would be
received.
The current consolidated Alphamin cash position is approximately US$83 million. The
Company will assess the group cash position at financial year-end December 2021 with a view
to balancing capital allocations between growth initiatives, ABM 2021 corporate taxes due April
2022 and a maiden Alphamin dividend.
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FOR MORE INFORMATION, PLEASE CONTACT:
Maritz Smith
CEO
Alphamin Resources Corp.
Tel: +230 269 4166
E-mail: msmith@alphaminresources.com
JSE Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited
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1 Data obtained from International Tin Association Tin Industry Review 2020
CAUTION REGARDING FORWARD LOOKING STATEMENTS
Information in this news release that is not a statement of historical fact constitutes forward-
looking information. Forward-looking statements contained herein include, without limitation,
statements relating to the expected future exercise of warrants and the receipt of cash
proceeds therefrom and the potential for a maiden dividend. Forward-looking statements are
based on assumptions management believes to be reasonable at the time such statements
are made. There can be no assurance that such statements will prove to be accurate, as actual
results and future events could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward-looking statements. Although
Alphamin has attempted to identify important factors that could cause actual results to differ
materially from those contained in forward-looking statements, there may be other factors that
cause results not to be as anticipated, estimated or intended. Factors that may cause actual
results to differ materially from expected results described in forward-looking statements
include, but are not limited to: uncertainties associated with Alphamin’s resource and reserve
estimates, uncertainties regarding estimates of the expected mined tin grades, processing
plant performance and recoveries, uncertainties regarding global supply and demand for tin
and market and sales prices, uncertainties with respect to social, community and
environmental impacts, uninterupted access to required infrastructure and third party service
providers, adverse political events, impacts of the global Covid-19 pandemic on mining
operations and commodity prices as well as those risk factors set out in the Company’s
Management Discussion and Analysis and other disclosure documents available under the
Company’s profile at www.sedar.com. Forward-looking statements contained herein are made
as of the date of this news release and Alphamin disclaims any obligation to update any
forward-looking statements, whether as a result of new information, future events or results or
otherwise, except as required by applicable securities laws.
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 news release.
Date: 24-12-2021 08:37:00
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