Callinex announces private placement to raise up to $2 million
TRADING SYMBOL: TSX.V - CNX
VANCOUVER , June 21, 2012 /CNW/ - Callinex Mines Inc. ("Callinex" or the "Company") is pleased to announce that is has arranged a private placement of up to 5,000,000 common shares of the Company at a price of
.40 per share for total proceeds of up to $2,000,000 .
In connection with the private placement, the Company may pay a finder's fee on all or a portion of the financing.
The Company intends to use the net proceeds of the private placement to advance its exploration activities and for working capital.
The private placement is subject to acceptance by the TSX Venture Exchange.
On Behalf of the Board of Directors:
Neither the 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.
Certain of the information presented in this News Release may constitute "forward-looking statements" or "forward-looking information" within the meaning of Canadian securities legislation (together referred to as "forward-looking statements"). The forward-looking statements are subject to risks, uncertainties and other factors that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including any delays in the receipt of consents or approvals. Although Callinex has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this News Release and in any document referred to in this News Release. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date the statements are made and Callinex undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable law.