On November 25, 2010, AXMIN Inc. (AXM-TSX Venture) announced that it had closed its previously announced non-brokered private placement offering of Units for total gross proceeds of $10 million.

AXMIN intends to use proceeds of the offering for completion of an updated feasibility study for its Passendro Gold Project in the Central African Republic ("CAR"), for exploration on its permit areas in CAR that have the potential to increase available resources at Passendro and to begin the soft start portion of the mine development to bring forward the production date.

AXMIN is a Canadian exploration and development company with a strong focus on central and West Africa.

AXMIN was advised in this transaction by Fasken Martineau with a team that included John Turner, Krisztian Toth and Susan Newell.