Vancouver, British Columbia: Alset Energy Corp. (TSXV: ION) (“Alset” or “the Company”) announces that, subject to the approval of the TSX Venture Exchange, it proposes to undertake a non-brokered private placement of units (the “Units”) at a price of 8 cents ($0.08) per Unit for gross proceeds of up to $200,000. Each Unit shall comprise one common share in the capital of the Company and one common share purchase warrant.
Each warrant shall entitle the holder to purchase one common share at a price of 10 cents ($0.10) per share at any time within 12 months of the date of issuance. All securities to be issued under this private placement will be subject to a four-month resale restriction.
The company intends to close the private placement immediately following the satisfaction of customary closing conditions, including receipt of all regulatory approvals. Alset will use the net proceeds of this private placement for general working capital purposes and to advance its lithium projects in Mexico.
A finder’s and/or administrative fee may be paid to registered representatives in connection with the offering.
About Alset Minerals Corp. (ION.V)
Alset Minerals Corp. is a TSX-V 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 is actively exploring in Mexico and has a growing portfolio of 100% mineralized lithium-SO4-potassium salars in the states of San Luis Potosi and Zacatecas, two prolific mining jurisdictions.
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