JSE- and TSX-V-listed Alphamin Resources’ largest shareholder, Tremont Master Holdings, has acquired about 40-million shares, or 50% of shares placed, in the private shares placement that Alphamin launched.
The company placed 79-million shares, raising gross proceeds of C$15.9-million, or $12-million.
The shares were offered at C$0.20 apiece, with each unit consisting of one common share and one common share purchase warrant, to purchase an additional share at C$0.30 until April 2022.
The proceeds from the placement will be used to complete the company’s mine construction work on the Bisie tin project, in the Democratic Republic of Congo, and for working capital purposes.