14 Nov Alphamin Resources receives $500,000 bridge loan
VANCOUVER, CANADA – NOVEMBER 14, 2012 – Alphamin Resources Corp. (AFM: TSXV, “Alphamin” or the “Company”) is pleased to announce that it has received a bridge loan of Cdn$500,000 that will temporarily allow it to continue the exploration of the Bisie Tin Project (Democratic Republic of the Congo) while the Company obtains a $2 to $10 million financing, which it is working to complete before February 15th, 2013.
In consideration for the loan, the Company has agreed to pay a fee of $30,000 (in lieu of interest prior to February 15, 2013) and issue 384,000 bonus shares to the lender (subject to regulatory approval). If the financing is not completed by February 15, 2013, then the Company will pay interest on the loan of 8% per year.
ON BEHALF OF THE BOARD OF DIRECTORS
“Cosme Maria Beccar Varela”
Cosme Maria Beccar Varela, President and CEO
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