TORONTO, ONTARIO--(Marketwired - Apr 30, 2013) - AXMIN Inc. (TSX VENTURE:AXM) ("AXMIN" or the "Company") announce that one of the four financial institutions that signed debt Mandate Letters in January 2012 (see press release of January 26, 2012) terminated its Mandate Letter agreement with AXMIN effective April 15, 2013, due to the political situation in the Central African Republic ("CAR").
President and CEO of AXMIN, Mr. George Roach, comments, "This decision was dictated by certain European States decision to cut CAR from its list of borrowers as a result of the current political situation. We are confident that the new transitional government in CAR is committed to restoring peace and reconciliation in-country and when these circumstances have been rectified, the institution has expressed interest in reconsidering its position. At the same time it is worth noting that Dickson Resources have expressed confidence in their ability to assist in securing the financial package for the construction of the Passendro mine as soon as conditions permit."
2012 Financial Results
AXMIN also announces the filing of its 2012 Financial Statements and Management, Discussion and Analysis for the year ended December 31, 2012. These documents can be viewed on the SEDAR website (www.sedar.com) and the Company's website (www.axmininc.com).
Dickson Resources Limited is an international private resources firm backed by the private capital of its founders. The company is a BVI registered company headquartered in Hong Kong. Having a team of geological and financial experts, Dickson is committed to investing internationally in the exploration and mining of natural resources. Meanwhile Dickson's scope of business reaches beyond the mining sector to international trade, marketing and advisory services which are all part of its business expertise.
AXMIN is a Canadian exploration and development company with a strong focus on central and West Africa. AXMIN has projects in Central African Republic, Mozambique and Senegal. AXMIN is positioned to grow in value as it progresses its Passendro Gold Project towards development and builds on its project pipeline focusing on transitioning from an explorer to producer. For more information regarding AXMIN visit our website at www.axmininc.com.
This press release includes certain "Forward-Looking Statements." All statements, other than statements of historical fact included herein, including without limitation, statements regarding future plans and objectives of AXMIN; and statements regarding the ability to develop and achieve production at Passendro are forward-looking statements that involve various 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. Important factors that could cause actual results to differ materially from AXMIN's expectations have been disclosed under the heading "Risk Factors" and elsewhere in AXMIN's documents filed from time-to-time with the TSX Venture Exchange and other regulatory authorities. AXMIN disclaims any intention or obligation to update or revise any forward-looking statements whether resulting from new information, future events or otherwise, except as required by applicable law.