Alset Closes Private Placement and Issues Options

Alset Energy Corp. (TSXV:ION) is pleased to announce it has filed documents with the TSX Venture Exchange seeking final approval on their previously announced (see NR March 27, 2017) non-brokered private placement for gross proceeds of $369,000. Subject to regulatory approval Alset will be issuing 2,838,846 units (the “Units“), with each Unit consisting of 1 common share of the Company and 1 share purchase warrant (the “Warrants“), each warrant being exercisable for an additional common share of the company at a price of $0.20 for 12 months from closing, subject to the right of the company, after the 4 month hold period has expired, to accelerate the exercise period of the warrants should the closing price of shares of the Company be at or above $0.30 for a period of 10 consecutive trading days. Proceeds of this financing will be used to fund exploration of the Company’s salars in Mexico and for general working capital purposes. Directors and officers of the Company participated for approximately $100,000 of the financing with $52,000 from Alset’s Chairman.
Each security issued pursuant to the placement has a mandatory four-month holding period from the date of closing of the placement.
The Company has issued 2,189,035 incentive stock options exercisable at $0.15 for five years to directors, officers, employees and consultants.
About Alset Minerals (ION.V)
Alset Minerals is a TSX-V listed junior exploration company focused on exploring and development of a group of high-grade lithium and potassium projects in the Central Mexican Plateau. The Company is actively exploring in Mexico and Canada.
On behalf of the Board of Directors of Alset Minerals Corp.,
Allan Barry Laboucan, President and CEO
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
The information contained herein contains “forward-looking statements” within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be “forward-looking statements.”
Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations; risks related to gold price and other commodity price fluctuations; and other risks and uncertainties related to the Company’s prospects, properties and business detailed elsewhere in the Company’s disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company’s expectations or projections.