Proceeds used to advance company's exploration activities in Manitoba
By Devika Patel
Knoxville, Tenn., July 25 - Callinex Mines Inc. said it settled a C$1.36 million private placement of units. The deal priced June 12 and was increased to C$1.35 million from C$1.1 million on July 5.
The company sold 9.04 million units of one flow-through common share and one warrant at C$0.15 per unit. Each warrant will be exercisable at C$0.20 until July 25, 2015. The strike price is a 42.86% premium to the June 11 closing share price of C$0.14.
Proceeds will be used to advance the company's exploration activities 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 warrant
|
| Amount: | C$1,356,000
|
| Units: | 9.04 million
|
| Price: | C$0.15
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | July 25, 2015
|
| Warrant strike price: | C$0.20
|
| Pricing date: | June 12
|
| Upsized: | July 5
|
| Settlement date: | July 25
|
| Stock symbol: | TSX Venture: CNX
|
| Stock price: | C$0.14 at close June 11
|
| Market capitalization: | C$5.48 million
|
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