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,
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.
Suite 1110 - 555 W. Hastings St., Vancouver, BC V6H 4V4
Copyright CNW Group 2013