The Company announces that it has closed the first tranche of its non-brokered private placement, announced on July 24, totaling 1,064,727 units raising $585,600. The private placement consists of 1,818,181 units at a price of $0.55 per unit in the capital stock of the Company for gross proceeds of $1,000,000.
Each Unit will consist of one common share and one-half of one non-transferable common share purchase warrant. Each full Warrant will entitle the holder to purchase one further common share of the Corporation at the exercise price of $1.00 per Warrant Share for a period of 12 months from the closing date of the private placement. Closing of the remainder of the placement is conditional upon approval of the TSX Venture Exchange.
About Ximen Mining Corp.
Ximen Mining Corp. owns 100 percent interest in its two projects, Gold Drop Project and Brett Gold Project located in southern British Columbia. Recently the company has entered into a due diligence agreement with Huldra Silver Inc. for the purposes of determining the feasibility, terms and conditions of a proposal for the acquisition of Huldra Silver. Ximen is a publicly listed company trading on the TSX Venture Exchange under the symbol XIM, and is listed on the Frankfurt, Munich, and Berlin Stock Exchanges in Germany under the symbol 1XM and WKN number is A1W2EG as well in the USA on the OTCQX under the symbol XXMMF.
On Behalf of the board
“Christopher R Anderson”
Christopher R. Anderson, President, CEO and Director, Ximen Mining Corp.
For further information, please contact Ward Kondas 604-488-3900 or by email at ward@ximenminingcorp.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Statements in this press release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.