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AXMIN closes $2.5 million non-brokered private placement

Fasken
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Client

Confidential Client

On April 21, 2009, AXMIN Inc. (TSX VENTURE:AXM) announced that it had closed its previously announced non-brokered private placement of 25,000,000 Units, for total gross proceeds of $2.5 million. AXMIN's major shareholder AOG Holdings BV, a wholly owned subsidiary of The Addax & Oryx Group Limited, took up all Units offered under the private placement. The net proceeds of the private placement will be used for gold exploration on AXMIN's projects in central and west Africa, working capital, and general corporate purposes. AXMIN is a Canadian exploration and development company with a strong focus on central and west Africa. The company has projects in Central African Republic, Mali and Sierra Leone. AXMIN was advised in this transaction by Kristian Toth and Daniel Fuke of Fasken Martineau.

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