Alphamin Requires Remaining 30% Of Bisie Tin Project

Alphamin Resources Corp. (TSXV:AFM) announced it has closed the acquisition of the remaining 30% of the mining and processing plant at the Bisie tin project.

As quoted in the press release:

In consideration for acquiring the remainder of MPC, Alphamin issued a total of 29,000,000 shares in two steps. The first step was Alphamin issuing 19,335,747 shares for the acquisition of an additional 20% of MPC by Alphamin BVI, bringing its total interest to 90%, these shares being subject to a hold period expiring on January 10, 2013.

The remaining 10% was acquired by Alphamin BVI in consideration for an additional 9,664,253 shares of the Company. In addition warrants to purchase up to 2,400,000 million shares of Alphamin at $0.80 per share until August 30, 2013 have been issued as a finder’s fee. These securities are subject to a hold period expiring on January 11, 2013.

Click here to read the Alphamin Resources Corp. (TSXV:AFM) press release.