Axmin closes financing (January 06, 2003)

Junior gold explorer Axmin (AXM-V) has closed a non-brokered private placement of 4.2 million units priced at 30 apiece, for total proceeds of $1.2 million.

Each unit consists of one share plus a half warrant. A whole warrant permits the holder to buy one more share for 45 within 18 months.

Net proceeds are earmarked for Axmin’s ongoing mineral exploration program in the Central African Republic.