Vancouver, B.C., May 2, 2019 – Ximen Mining Corp. (TSX-V: XIM, “Ximen” or the “Company”) announces that it has entered into three related arm’s length agreements to acquire a total of 18,475,014 common shares (the “Target Shares”) of 099537 B.C. Ltd., a private B.C. company (“099537”), which has as its principal asset an option to acquire the Kenville Gold Mine, located west of Nelson, B.C. (the “Agreements”).
Ximen Mining is not only excited about the The Kenville Gold Mine acquisition, we are also extremely pleased with the additional new shareholders whom accompany the project, and have decided to join forces with us and share their optimistic enthusiasm and support.”
says Chris Anderson, Ximen, CEO
The Target Shares will add to the Company’s contemplated 099537 share acquisition announced in its press release of April 8, 2019. Readers may wish to refer to that previous release for more information about the Kenville Gold Mine.
In consideration for the Target Shares, being valued at $659,558 (i.e. $0.0357 per Target Share), the Company proposes to issue 942,226 common shares at a deemed issue price of $0.70 per Company share (the “Consideration Shares”).
The acquisition of the Target Shares is subject to TSX Venture Exchange (the “Exchange”) acceptance of the Agreements. The Consideration Shares will be subject to a customary 4-month, plus one day, hold period running from the date on which they are issued. The acquisition the Target Shares is expected to complete by May 30, 2019.
On behalf of the Board of Directors,
Christopher R. Anderson,
President, CEO and Director