AXMIN Inc V.AXM.H

Alternate Symbol(s): AXMIF

Metals & Mining Gold

AXMIN Inc. is a Canadian exploration and development company with a focus on Central and West Africa. The Company, through its wholly owned subsidiaries, has exploration projects in the Central African Republic (CAR) and Senegal. The Company’s primary asset is the Passendro Gold Project situated in the CAR. It holds a 100% interest in the Bambari properties, which consists of a mining license (355 square kilometers) and two exploration licenses, Bambari 1 and 2 (1,240 square kilometers). The Passendro Gold Project is situated in the center of the mining license, which is ring-fenced by the two Bambari exploration licenses. The Company, through its joint venture partner and manager, Sabodala Mining Company SARL (SMC) owns approximately 20% interest in Sounkounkou, Heremokono and Sabodala NW exploration licenses (the Project) located in the Birimian belt of eastern Senegal. The Company's subsidiaries include AXMIN Limited (BVI), Aurafrique SARL (CAR), SOMIO Toungou SA (CAR), and others.

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AXMIN Inc > Axmin, republic agree to Jan. 29 deadline for Passendro

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Comment by Dragoonon Dec 01, 2021 6:43am

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Post# 34183739

RE:Axmin, republic agree to Jan. 29 deadline for Passendro

A part not to forget: The parties to the mediation agreed to a maximum delay to January 29, 2022 to rectify this matter. If this timeline is not adhered to, AXMIN has the right to pursue a binding legal process.

Roddiggiti wrote:
Axmin, republic agree to Jan. 29 deadline for Passendro

2021-11-29 16:01 ET - News Release

Ms. Lucy Yan reports

AXMIN INC. ANNOUNCES PROGRESS REPORT ON MEDIATION WITH THE GOVERNMENT OF THE CENTRAL AFRICAN REPUBLIC

Axmin Inc. has released a progress report on the mediation process that was initiated by the company regarding the Passendro gold project in the Central African Republic (CAR) to rectify the mining licence and two exploration permits, as previously publicly disclosed by the company including in "Operations -- Central African Republic -- Passendro Gold Project" in the company's management's discussion and analysis for the six months ended June 30, 2021, and 2020.

The President of the CAR, Mr Faustin-Archange Touadera, gave a mandate to Mr Arnaud Djoubaye-Abazene, the Minister of Justice, and to Mr Ruffin Benam-Beltoungou, the Minister of Mines and Geology, to come to an amicable settlement with the Company. Axmin is represented by Mr Boubacar Sidibe and the Company's legal counsel.

Axmin made its views clear during the mediation held in Abidjan, Ivory Coast as to various solutions regarding the appropriate rectification. The CAR delegation did not contest or dispute the propositions made by the Company but did request the opportunity to return to Bangui, the capital of the CAR, to discuss the possible solutions with the Council of Ministers. The parties to the mediation agreed to a maximum delay to January 29, 2022 to rectify this matter. If this timeline is not adhered to, Axmin has the right to pursue a binding legal process.

Axmin Chairman and CEO, Lucy Yan, said, "We are delighted to be working with the representatives of the CAR Government to rectify this matter in an amicable manner. We believe that the mutually successful rectification of this matter will benefit the CAR, all shareholders and all other stakeholders."

About Axmin Inc.

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

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