Correction: Mr. Felipe Tan Announces Early Warning Report Filing Regarding His Shareholdings in GobiMin

TSX-V: GMN

TORONTO, Oct. 15, 2012 /CNW/ - GobiMin Inc. (the "Company" or "GobiMin") would like to announce that this amended news release has been prepared and is being issued to correct and replace in its entirety a news release issued on September 28, 2012 based on incorrect data regarding the number of shares acquired. The Company reports that Mr. Felipe Tan, 801, 8/F., Top Glory Tower, 262 Gloucester Road, Causeway Bay, Hong Kong, has announced that up to September 28, 2012 he has acquired an aggregate of 1,174,000 common shares of the Company at an average price of $0.55 per share in the public market, for an aggregate acquisition cost of $644,560.

Prior to the acquisition of these 1,174,000 shares and recent cancellations resulting from the Company normal course issuer bid, Mr. Tan held directly and indirectly 30,095,000 shares of GobiMin, representing approximately 48.08% of GobiMin's issued capital prior to the aforementioned acquisition and cancellations. As a result of his acquisition, Mr. Tan now holds directly and indirectly 31,269,000 shares of GobiMin, representing approximately 52.12% of the 59,985,796 shares of GobiMin issued and outstanding as at September 28, 2012. Of these 31,269,000 shares of GobiMin, 2,361,500 are held directly by Mr. Tan and 28,907,500 indirectly through Belmont Holdings Group Limited and are all being held for investment purposes. Mr. Tan may in the future take such actions in respect of its GobiMin shares as he deems appropriate in light of the market circumstances then existing, including the potential purchase of additional shares of GobiMin through open market purchases or privately negotiated transactions, or the sale of all or portion of such holdings in the open market or in privately negotiated transactions to one or more purchasers.

There are no persons acting jointly or in concert with Mr. Tan with respect to Mr. Tan's shareholdings in GobiMin, nor has Mr. Tan entered into any agreements in respect of its shareholdings in GobiMin with any person with which Mr. Tan acts jointly or in concert.

The above information has been provided to the Company by Mr. Tan for inclusion in this news release.

This news release is issued pursuant to Multilateral Instrument 62-104, which also requires a report to be filed with the British Columbia and Alberta Securities Commissions containing information with respect to the foregoing matters.

A copy of an Amended and Restated Early Warning Report can be found on SEDAR at www.sedar.com under the Company's Profile.

"Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release."

 

SOURCE: GobiMin Inc.

Felipe Tan, Chief Executive Officer
Tel: [phone]
Email: [email protected]