Alset Closes $180,000 Private Placement Financing
ALSET CLOSES $180,000 PRIVATE PLACEMENT FINANCING
January 10, 2018
Vancouver, British Columbia: Alset Minerals Corp. (TSXV: ION) (“Alset” or “the
Company”) announces that it has closed its non-brokered private placement (the
“Financing”), previously announced December 20, 2017, for gross proceeds of $180,000.
The Company will be issuing 2,571,429 units (the “Units”), each Unit consisting of 1
common share in the capital of the Company and one common share purchase warrant.
Each warrant shall entitle the holder to purchase an additional common share at a price of
10 cents ($0.10) per share at any time within 24 months of the date of issuance.
All securities issued under this private placement will be subject to a four -month resale
restriction.
The Placement was effected with 3 insiders of the Company subscribing for 1,142,857 Units
for aggregate subscription proceeds of $80,000.00, that portion of the financing a “related
party transaction” as such term is defined under Multilateral Instrument 61-101 – Protection
of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is relying
on exemptions from the formal valuation and minority approval requirements set out in MI
61- 101. The Company is exempt from the formal valuation requirement of MI 61 -101
under sections 5.5(a) and (b) of MI 61-101 in respect of the transaction as the fair market
value of the transaction, insofar as it involves the interested party, is not more than the
25% of the Company’s market capitalization. Additionally, the Company is exempt from
minority shareholder approval under sections 5.7(1)(a) and (b) of MI 61-101 as, in addition
to the foregoing, (i) neither the fair market value of the Units nor the consideration received
in respect thereof from interested party exceeds $2,500,000, (ii) the Company has one or
more independent directors who are not employees of the Company, and (iii) all of the
independent directors have approved the transaction. Material change reports were not
filed 21 days prior to the closing of the financing because insider participation had not been
established at the time the financing was announced.
A finder's fee of $7,000 has been paid and 100,000 broker warrants exercisable at $0.10 for
24 months have been issued to a registered representative in connection with the offering.
Alset will use the net proceeds of this private placement for general working capital
purposes and to advance its lithium projects in Mexico.
About Alset Minerals Corp. (ION.V)
Alset Minerals is a TSX Venture Exchange-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, in November, 2017, added nearly one million acres
ALSET MINERALS CORP.
Suite 1400 – 1040 West Georgia Street
Vancouver, BC V6E 4H8
Tel: 604-505-4753
www.alsetenergy.ca
of lithium prospective salars, through staking, also in Mexico. Alset has a growing portfolio
of 100-per-cent-owned lithium prospective salars in the states of San Luis Potosi, Zacatecas
and Coahuila in Mexico. With the November, 2017, staking, the company now has more
than one million acres of lithium prospective salars in mining-friendly Mexico with roads and
power up to the salars.
On behalf of the Board of Directors of Alset Minerals Corp.,
"Allan Barry Laboucan"
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."
For further information contact Allan Barry Laboucan @:
Phone (604) 505-4753