Jesus Alberto Arias acquires stake in Karmin Exploration Inc.


TORONTO, Feb. 15, 2017 /CNW/ - Jesus Alberto Arias (the "Offeror") is pleased to announce that on February 13, 2017 he acquired 6,888,000 units (the "Units") of Karmin Exploration Inc. ("Karmin"), a corporation governed by the Alberta Business Corporations Act, a Toronto, Ontario based mining and exploration company.

Each Unit was purchased pursuant to a subscription agreement at a price of CDN$0.25 per Unit.  Each Unit consists of one Karmin common share (each a "Common Share") and one-half of one common share purchase warrant (each whole, a "Warrant").  Each Warrant is exercisable to acquire one Common Share at a price of CDN$0.35 per Common Share for a period of three years from the closing of Karmin's previously-announced non-brokered private placement financing.

After giving effect of the acquisition of the 6,888,000 Units, the Offeror has acquired ownership of 6,888,000 Common Shares, representing approximately 9.08% of the presently issued and outstanding Common shares.  In addition, the Offeror has acquired ownership of 3,444,000 Warrants.  Assuming the exercise in full of the 3,444,000 Warrants, the Offeror will own 10,332,000 Common Shares, representing approximately 13.03% of the issued and outstanding Common Shares, on a partially-diluted basis.

The Offeror has acquired the Common Shares and Warrants for investment purposes, and may acquire further Common Shares and Warrants, or dispose of its holdings of Common Shares and Warrants, both as investment conditions warrant.  Karmin is listed on the TSX Venture Exchange and under the Peruvian Stock Exchange under the symbol "KAR".       

The Offeror is located at 17 State Street, Suite 2320, New York, New York 10004-1599, United States of America.  For further information please contact J. Alberto Arias at (212) 266-8600, e-mail:  Karmin's head office is located at 100 King Street West, Suite 5700, Toronto, Ontario M5X 1C7.

The dissemination of this release in the United States or to any United States news service may constitute a violation of U.S. securities laws.

SOURCE Jesus Alberto Arias

For further information: For further information please contact J. Alberto Arias at (212) 266-8600, e-mail:

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