Asian Mineral Resources Raises $4.68 Million from Warrant Exercise
TORONTO, ONTARIO -- (Marketwire) -- 01/10/11 -- Asian Mineral Resources Limited (the 'Company') (TSX VENTURE: ASN) announced today that 31,200,000 of its share purchase warrants which expired on January 7, 2011 have been exercised at $0.15 a share for gross proceeds of $4.68 million. Those exercising were members of the Tecity Group and certain individuals. 'We are delighted that Tecity has confirmed its support for the Company and has provided important additional funding which will allow us to continue with some activities on our Ban Phuc Project while pursuing our efforts to obtain the remainder of the required funding for the Project' commented Choo Mun Keong, Asian Mineral's Executive Chairman, 'We believe Tecity's vote of confidence will greatly assist our funding efforts'. Members of the Tecity Group including Malaysia Smelting Corporation now own 39.81% of the Company's outstanding shares. After the exercise of these warrants, Asian Mineral will have 202,934,435 common shares outstanding.
Company Profile:
Asian Mineral Resources Limited is developing the Ban Phuc Nickel/Copper Project in Vietnam, a 5 hour drive north-west of Hanoi, in which it has a 90% interest.
For further details on the Company and the Project, please refer to the website at www.asianminres.com.
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:
Asian Mineral Resources Limited
Paula Kember
CFO
416 360 3412
416 367 1954 (FAX)
info@asianminres.com
Asian Mineral Resources Limited
Lai Fook Hoy
CEO
84 4 3773 7997
84 4 3773 7996 (FAX)
lai.fh@asianminres.com