VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 6, 2013) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Alphamin Resources Corp. (TSX VENTURE:AFM) (the "Company") wishes to announce that it has entered into a debt settlement (the "Transaction") agreement with a creditor of the Company pursuant to which the Company has agreed to issue an aggregate of 2,500,000 common shares ("Shares") at a deemed price of $0.20 per Share. The amount of indebtedness settled by the Agreement is $500,000, which was forwarded by the creditor to the Company in the form of a bridge loan. The Company decided to satisfy this outstanding indebtedness with Shares in order to preserve its cash for operations.
The Transaction is subject to the approval of the TSX Venture Exchange (the "Exchange"). The Company will close the Transaction and issue the Shares once the Transaction has been approved by the Exchange.
ON BEHALF OF THE BOARD OF DIRECTORS
Ross Doyle, Chief Financial Officer
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful. The Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or the securities laws of any state of the United States and may not be offered or sold within the United States (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.
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.