Home  |  Contact Us

News > 2011 > May 31, 2011

News Releases

May 31, 2011


Toronto, Ontario – May  31, 2011 – AXMIN Inc. (TSX Venture: AXM) (“ÀXMIN” or the “Company”) is pleased to announce that its Annual and Special Meeting of Shareholders (the “Meeting”) will be held in the Rideau/St Lawrence Rooms at the offices of the Company’s counsel, Fasken Martineau DuMoulin LLP, 24th Floor, Bay Adelaide Centre, 333 Bay Street, Toronto, Ontario, M5H 2T6, Canada on Tuesday, the 28th day of June, 2011 at 10:00 a.m. (Toronto time).

Among the other purposes for the Meeting, the shareholders will be asked to consider and, if thought appropriate, pass a special resolution authorizing the directors, in their discretion, to consolidate the Company’s shares. The directors will be given the authority, if they consider it to be in the best interests of the Company, to implement a share consolidation at any time prior to March 31, 2012. A share consolidation is being proposed in response to numerous feedbacks from shareholders and financiers to prepare the Company for its impending transition to producer from explorer.

President and CEO of AXMIN, Mr. George Roach, comments, “The consolidation is proposed to complete the work of renewing AXMIN that began with my assuming the role of CEO following the AfNat merger and subsequent granting of the 25-year Mining Licence. As we work through the process of securing debt financing for the construction of the Passendro Gold Mine, it has been expressed that a refined share structure is widely anticipated, and perhaps necessary to facilitate AXMIN’s marketability to a broader institutional investor base.”

The d
irectors of the Company fixed the close of business on May 24, 2011 as the Record Date for the determination of the shareholders entitled to notice of the Meeting, and any adjournment or postponement thereof. The formal Notice of the Meeting and the Company’s proxy statement are being mailed to the shareholders of record today, May 31, 2011. The Company encourages all shareholders to read the proxy materials when received and return their proxies as soon as possible.


AXMIN is a Canadian exploration and development company with a strong focus on central and West Africa. AXMIN has projects in Central African Republic, Mali, Mozambique, Sierra Leone, Senegal and Zambia. For more information regarding AXMIN visit our website at www.axmininc.com.

For additional information please contact AXMIN Inc.:

George Roach

President & CEO

Direct T:+44 779 626 3999

Judy Webster

Manager Investor Relations

T: 416 368 0993 ext 221


 Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release includes certain "Forward-Looking Statements." All statements, other than statements of historical fact included herein, including without limitation, statements regarding future plans and objectives of AXMIN; and statements regarding the ability to develop and achieve production at Passendro, to revalidate the BFS and to satisfy the terms of the Mining Licence as negotiated, are forward-looking statements that involve various risks and uncertainties.

There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from AXMIN's expectations have been disclosed under the heading "Risk Factors" and elsewhere in AXMIN’s documents filed from time-to-time with the TSX Venture Exchange and other regulatory authorities.  AXMIN disclaims any intention or obligation to update or revise any forward-looking statements whether resulting from new information, future events or otherwise, except as required by applicable law.