Deal sells 3 million units of a flow-through share, half-share warrant
By Devika Patel
Knoxville, Tenn., Dec. 12 - Callinex Mines Inc. announced it will raise C$2.85 million in a non-brokered private placement of units.
The company will sell 3 million units of one flow-through common share and one half-share warrant at C$0.95 per unit. Each whole warrant will be exercisable at C$1.00 for two years. The strike price reflects a 17.65% premium to the Dec. 9 closing share price of C$0.85.
Proceeds will be used on company properties in Manitoba.
Callinex is a base metals exploration company based in Vancouver, B.C.
| Issuer: | Callinex Mines Inc.
|
| Issue: | Units of one flow-through common share and one half-share warrant
|
| Amount: | C$2.85 million
|
| Units: | 3 million
|
| Price: | C$0.95
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.00
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 12
|
| Stock symbol: | TSX Venture: CNX
|
| Stock price: | C$0.74 at close Dec. 12
|
| Market capitalization: | C$4.21 million
|
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