Ximen Mining Receives Drill Permit Approval for Silver Project in Greenwood - Historic Mining Camp - Greenwood BC - Seite 2
The net proceeds from the Offering will be used by the Company for exploration expenses on the Company's British Columbia mineral properties.
A finder's fee may be paid to eligible finders in accordance to the TSX Venture Exchange policies. All securities issued pursuant to the offering will be subject to a hold period of four months and one day from the date of closing. The offering and payment of finders' fees are both subject to approval by the TSX-V.
The Company also announces that it has closed the first and second tranches of the non-brokered private placement first announced on October 4, 2021 for gross proceeds of $300,000. A total of 1,000,000 units were issued for the first tranche and 500,000 units for the second tranche. Each Unit consists of one common share at a price of $0.20 per share and one transferable common share purchase warrant (a "Warrant"). Each whole warrant will entitle the holder to purchase, for a period of 36 months from the date of issue, one additional common share of the Issuer at an exercise price of $0.35 per share. The term of the warrants may be accelerated in the event that the issuer's shares trade at or above a price of $0.45 per share for a period of 10 consecutive days. In such case of accelerated warrants, the issuer may give notice, in writing or by way of news release, to the subscribers that the warrants will expire 20 days from the date of providing such notice. The hold expiry date for the first tranche is February 8, 2022 and the second tranche is February 9, 2022. No finders' fees were paid on these tranches.
The net proceeds from the Offering will be used by the Company for exploration expenses on the Company's British Columbia mineral properties and general working capital. The closing of the first tranche of the private placement financing is subject to final TSX-V approval
On behalf of the Board of Directors,
"Christopher R. Anderson"
Christopher R. Anderson,
President, CEO and Director
604 488-3900
Lesen Sie auch
Investor Relations:
Sophy Cesar
604-488-3900
ir@XimenMiningCorp.com
About Ximen Mining Corp.
Ximen Mining Corp. owns 100% interest in three of its precious metal projects located in southern BC. Ximen`s two Gold projects The Amelia Gold Mine and The Brett Epithermal Gold Project. Ximen also owns the Treasure Mountain Silver Project adjacent to the past producing Huldra Silver Mine. Currently, the Treasure Mountain Silver Project is under a option agreement. The option partner is making annual staged cash and stocks payments as well as funding the development of the project. The company has also acquired control of the Kenville Gold mine near Nelson British Columbia which comes with surface and underground rights, buildings and equipment.