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Callinex Closes Private Placement To Raise $1,356,000

Callinex Closes Private Placement To Raise $1,356,000

VANCOUVER, July 25, 2013 /CNW/ - Callinex Mines Inc. (TSX.V-CNX) (OTCQX - CLLXF) ("Callinex") is pleased to announce that is has closed its non-brokered private placement to raise proceeds of $1,356,000 by the issuance of 9,040,000 units (the "Units") at a price of $0.15 per Unit. Each Unit consists of one flow-through common share (a "Share") and one share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one non flow-through common share of the Company at the price of $0.20 per share until July 25, 2015.

All Shares, Warrants and any shares issued on exercise of the Warrants are subject to a four-month hold period and may not be traded in Canada until November 26, 2013, except as permitted by applicable Canadian securities laws and the TSX Venture Exchange.

In connection with the private placement, Callinex paid finders' fees in the amount of $76,650 in cash.

Callinex is using the proceeds of the private placement to advance its exploration activities in Manitoba.

On Behalf of the Board of Directors,

J.J. O'Donnell

J.J. O'Donnell
President and CEO

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.

Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to future expenditures. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the ability to complete contemplated work programs and the timing and amount of expenditures. Callinex does not assume the obligation to update any forward-looking statement.

SOURCE: Callinex Mines Inc.

Braden Maccke
Investor Relations
Suite 1110 - 555 W. Hastings St., Vancouver, BC V6H 4V4
Telephone:  604-605-0885 
Fax:  604-605-0886
Email:[email protected]

Copyright CNW Group 2013

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