International Resources Holding Completes Acquisition of Majority Stake in Alphamin Resources Corp.
Ali Alrashdi, CEO of International Resources Holding, commented: "This acquisition marks a significant milestone for IRH. We see Alphamin, and its operations at Bisie, not just as a world-class tin asset, but as a strategic opportunity for the long-term development of a vital resource for the green energy transition, and a long-term boost to development in North Kivu, through investment in sustainable operations, skills development, and local partnerships. We look forward to working closely with Alphamin management and the communities around Bisie to unlock shared value."
IRH, through its wholly owned subsidiary, Alpha Mining LTD, has acquired 718,990,967 common shares (the " Acquired Shares") of Alphamin (the " Common Shares") from Tremont at a price of C$0.70 per share, representing approximately 56% of the outstanding shares of Alphamin. IRH has paid Tremont US$367,001,749 in cash for the Acquired Shares.
Required Early Warning Disclosure
Immediately prior to entering into the definitive agreement regarding the Transaction, IRH did not own any Common Shares.
Prior to completion of the Transaction, Tremont owned 729,124,559 Common Shares, representing approximately 57% of the outstanding Common Shares, and upon completion of the Transaction, continues to hold 10,133,592 Common Shares, representing approximately 0.8% of the outstanding Common Shares.
IRH has acquired the Acquired Shares for investment purposes. IRH intends to review its investment in Alphamin on a continuing basis and, depending upon various factors, including without limitation, the price and availability of Alphamin's securities, subsequent developments affecting Alphamin, its business and prospects, other investment and business opportunities available to IRH, general industry and economic conditions, the securities markets in general, tax considerations and other factors deemed relevant by IRH, IRH may (i) change its beneficial ownership of the Common Shares, whether through transactions effected in the open market, by privately negotiated agreements, or otherwise, or (ii) consider or propose, develop plans or take action which relate to or would result in, one or more of the actions described in subparagraphs (a) - (k) of Item 5 of Form 62-103F1 - Required Disclosure Under the Early Warning Requirements. Among other things, IRH may in the future consider the appropriateness of exploring one or more transactions to acquire the balance of the outstanding Common Shares after discussion with Alphamin's shareholders, board of directors and/or other stakeholders.
Tremont holds its Common Shares for investment purposes. The disposition of Common Shares was undertaken in the ordinary course of business for investment purposes.
The Transaction was not completed through any stock exchange or other securities market. The acquisition of the Common Shares was made by way of private agreement with five or fewer third parties at a price per share not exceeding 115% of the market price of the Common Shares and in compliance with the "private agreement exemption" under section 4.2(1) of National Instrument 62-104 Take-Over Bids and Issuer Bids.
Copies of the Early Warning Reports of both IRH and Tremont with respect to the Transaction will be filed under Alphamin's SEDAR+ profile at www.sedarplus.ca, and may also be obtained by contacting the respective IRH and Tremont contacts listed below.
The head office of Alphamin is located c/o ADANSONIA MANAGEMENT SERVICES LIMITED, Perrieri Office Suites, C2-302, Level 3, Office Block C, La Croisette, Grand Baie, 30517, Mauritius.
About International Resources Holding (IRH)
International Resources Holding (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.
For more information, visit www.irh.ae
IRH's head office is located at:
International Resources Holding RSC Ltd
Ground floor, Building C12
Al Halawi St, Al Muntazah,
Ministries Complex, Abu Dhabi
About Tremont Master Holdings (Tremont)
Tremont is an investment holding company incorporated under the laws of Mauritius.
Tremont's head office is located at:
Tremont Master Holdings
C/o Adansonia Management Services Limited
Suite 1, Perrieri Office Suites, Office Block C, La Croisette
30517
Grand Baie
Mauritius
SOURCE International Resources Holding
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All assays from the current program, including holes PG25-04 and PG25-05, are pending on a rush basis and will be disclosed once available. Highlights PG25-07A intersected a continuation of the Nova Discovery uranium basement hosted mineralization approximately 70 metres northeast of PG25-05 and 60 metres below the unconformity, averaging 11,100 CPS over 14.0 metres with a peak of 110,100 CPS. The Nova Discovery mineralization at Q48 remains open to the northeast, the direction of increasing radioactivity, but wet marsh ground conditions currently prevent further drilling in that direction. Follow-up drilling is expected to resume this winter, when frozen ground allows for more efficient land-based access. The drill rig has now been mobilized to the Turaco target, located approximately 8 km northeast of the Q48 target within the Dorado project. Up to four holes are planned at Turaco as part of the 5,400-metre drill program approved by the joint venture partners for 2025. 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DDHs PG25-06 and PG25-07A Drill hole PG25-06 targeted the brittle fault associated with mineralization (Figure 1) at the unconformity approximately 20 metres northeast of initial drilling (Figure 2). The drill hole was collared with a dip of -64 degrees and encountered Athabasca sandstone to a depth of 316 metres. Granitic gneiss displaying paleoweathering alteration was drilled to 341 metres then generally unaltered granite, pegmatites and pelitic gneiss was drilled to the completion depth of 482 metres. Projection of the Nova Discovery zone mineralization suggests the radioactive sandstone interval of 1,040 cps over 2.3 metres in the Mount Sopris 2PGA-1000 downhole gamma probe (Table 1), which occurs within core lost between 312.4 to 314.0m, is related to the primary mineralized structure. Hole PG25-07A was collared from the PG25-04 drill pad and initial deviation resulted in a large 70 metre step out to the northeast of the PG25-05 mineralized intercept. The unconformity was intersected at a depth of 322 metres and the drill hole intercepted the radioactive structure approximately 40 metres up-dip of PG25-04. From the unconformity, granitic gneiss with pegmatitic intervals was encountered to a depth of 392 metres that was initially clay altered for 5 metres, weakly chlorite altered for 20 meters, unaltered for 36 metres, then became chloritized and silicified for 9 metres. Chloritized pelitic gneiss was drilled from 392 to 441 metres, unaltered graphitic and pyritic pelitic gneiss to 459 metres, followed by unaltered granitic gneiss and pegmatites with minor pelitic gneiss to the completion depth of 548 metres. The PG25-07A Nova zone mineralization starts within granitic gneiss at 382.3 metres and extends into pelitic gneiss to a depth of 396.3 metres returning an average of 11,100 cps over 14.0 metres. 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The samples are analyzed for a multi-element suite using partial and total digestion inductively coupled plasma methods, for boron by Na2O2 fusion, and for uranium by fluorimetry. Qualified Person Statement The scientific and technical information contained in this news release relating to IsoEnergy and Purepoint was reviewed and approved by Dr. Dan Brisbin, IsoEnergy's Vice President, Exploration and Scott Frostad BSc, MASc, Purepoint's Vice President, Exploration, who are "Qualified Persons" (as defined in NI 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101")). For additional information with respect to the current mineral resource estimate for IsoEnergy's Hurricane Deposit, please refer to the Technical Report prepared in accordance with NI 43-101 entitled "Technical Report on the Larocque East Project, Northern Saskatchewan, Canada" dated August 4, 2022, available under IsoEnergy's profile at This news release refers to properties other than those in which IsoEnergy and Purepoint have an interest. Mineralization on those other properties is not necessarily indicative of mineralization on the Joint Venture properties. About IsoEnergy Ltd. IsoEnergy (NYSE American: ISOU; TSX: ISO) is a leading, globally diversified uranium company with substantial current and historical mineral resources in top uranium mining jurisdictions of Canada, the U.S. and Australia at varying stages of development, providing near-, medium- and long-term leverage to rising uranium prices. 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Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". This forward-looking information may relate to additional planned exploration activities, including the timing thereof and the anticipated results thereof; and any other activities, events or developments that the companies expect or anticipate will or may occur in the future. Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management at the time, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Such assumptions include, but are not limited to, that planned exploration activities are completed as anticipated; the anticipated costs of planned exploration activities, the price of uranium; that general business and economic conditions will not change in a materially adverse manner; that financing will be available if and when needed and on reasonable terms; and that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Joint Venture's planned activities will be available on reasonable terms and in a timely manner. Although each of IsoEnergy and Purepoint have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Such statements represent the current views of IsoEnergy and Purepoint with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by IsoEnergy and Purepoint, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Risks and uncertainties include but are not limited to the following: the inability of the Joint Venture to complete the exploration activities as currently contemplated; ; uncertainty of additional financing; no known mineral resources or reserves; aboriginal title and consultation issues; reliance on key management and other personnel; actual results of technical work programs and technical and economic assessments being different than anticipated; regulatory determinations and delays; stock market conditions generally; demand, supply and pricing for uranium; and general economic and political conditions. Other factors which could materially affect such forward-looking information are described in the risk factors in each of IsoEnergy's and Purepoint's most recent annual management's discussion and analyses or annual information forms and IsoEnergy's and Purepoint's other filings with the Canadian securities regulators which are available, respectively, on each company's profile on SEDAR+ at IsoEnergy and Purepoint do not undertake to update any forward-looking information, except in accordance with applicable securities laws. SOURCE IsoEnergy Ltd.
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