Vancouver, B.C., June 17, 2019 – Ximen Mining Corp. (TSX-V: XIM, “Ximen” or the “Company”) announces that, further to its news releases of April 8, 2019, May 2, 2019 and May 9, 2019, it has entered into four new arm’s length agreements to acquire an additional 4,733,333 common shares (“Target Shares”) of 0995237 B.C. Ltd., a private B.C. company (“0995237”).
In consideration for these 4,733,333 additional Target Shares the Company proposes to issue a total of 236,666 Ximen common shares at a deemed issue price of $0.70 per share (the “Consideration Shares”). The principal asset of 0995237 is its option to acquire the Kenville Gold Mine, located west of Nelson, B.C.
The acquisition of the Target Shares remains subject to TSX Venture Exchange acceptance. 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 of the Target Shares is expected to complete by June 30, 2019.
On behalf of the Board of Directors,
Christopher R. Anderson,
President, CEO and Director