ALPHAMIN ADVISED OF AGREEMENT BY MAJOR SHAREHOLDER FOR SALE OF MAJORITY INTEREST IN THE COMPANY
GRAND BAIE, MAURITIUS, June 04, 2025 (GLOBE NEWSWIRE) -- Alphamin Resources Corp. (AFM:TSXV, APH:JSE AltX) (the “Company”) announced today that it has been advised by its 57% majority shareholder, Tremont Master Holdings (“TMH”), that Tremont has entered into a definitive agreement for the sale of 718,990,967 common shares of the Company, representing approximately 56% of the outstanding common shares, to AbuDhabi-based International Resource Holding (“IRH”) at a price of C$0.70 share, or C$503,293,677 (US$367,001,749) in the aggregate, and subject to certain completion adjustments that may decrease the total consideration. Details of the proposed transaction are contained in a joint news release issued by TMH and IRH dated June 3, 2025 (the “News Release”).
As disclosed in the News Release, IRH is an Abu Dhabi-based global mining company, focused on securing and optimizing industrial metals supply chains. IRH invests in high-quality upstream and midstream assets to enhance the stability and efficiency of global raw material markets. The News Release also discloses that closing of the transaction is subject to certain closing conditions, including, among others, the receipt of all regulatory and internal corporate approvals.
The board of directors of Alphamin is evaluating the impact, if any, of the proposed transaction to the Company.
By order of the Board
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FOR MORE INFORMATION, PLEASE CONTACT:
Maritz Smith
CEO
Alphamin Resources Corp.
Tel: +230 269 4166
E-mail: msmith@alphaminresources.com
Neither the 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 news release.
