Asiamet Bought Deal Private Placement

White Rock, British Columbia (FSCwire) - Asiamet Resources Ltd. (the “Company”) is pleased to announce that through clients of Optiva Securities Limited, its broker to the placement, the Company has received commitments to purchase 48,387,097 common shares at a price of GBP 3.1 pence per share for total gross proceeds of £1.5 million (equivalent to approximately CDN $2.7 million at CDN $0.056 per share).  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

ON BEHALF OF THE BOARD OF DIRECTORS

Tony Manini, Deputy Chairman and CEO

For further information please contact:

-Ends-

Tony Manini

Deputy Chairman and CEO, Asiamet Resources Ltd.
Telephone: +61 3 8644 1300
Email: tony.manini@asiametresources.com

FlowComms Limited

Sasha Sethi

Telephone: +44 (0) 7891 677 441

Email: Sasha@flowcomms.com / Mehrdad@flowcomms.com
 

Asiamet Resources Nominated Adviser

RFC Ambrian Limited

Andrew Thomson / Oliver Morse

Telephone: +61 8 9480 2500

Email: Andrew.Thomson@rfcambrian.com / Oliver.Morse@rfcambrian.com

VSA Capital Limited

Andrew Raca / Justin McKeegan

Telephone: +44 20 3005 5004 / +44 20 3005 5009

Email: araca@vsacapital.com

Optiva Securities Limited

Christian Dennis

Telephone: +44 20 3137 1903

Email: Christian.Dennis@optivasecurities.com

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.

United States Advisory

The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), have been offered and sold outside the United States to eligible investors pursuant to Regulation S promulgated under the U.S. Securities Act, and may not be offered, sold, or resold in the United States or to, or for the account of or benefit of, a U.S. Person (as such term is defined in Regulation S under the United States Securities Act) unless the securities are registered under the U.S. Securities Act, or an exemption from the registration requirements of the U.S. Securities Act is available. Hedging transactions involving the securities must not be conducted unless in accordance with the U.S. Securities Act. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in the state in the United States in which such offer, solicitation or sale would be unlawful.

This news release contains forward-looking statements that are based on the Company’s current expectations and estimates. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “suggest”, “indicate” and other similar words or statements that certain events or conditions “may” or “will” occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements.   Such factors include, among others: the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; possible variations in ore grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; and fluctuations in metal prices.  There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended.  Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

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