Vancouver, B.C., January 25th, 2022 – Ximen Mining Corp. (TSX.v: XIM) (FRA: 1XMA) (OTCQB: XXMMF) (the “Company” or “Ximen”) is pleased to announce it has entered into an extension to its investment agreement with Alumina Partners (Ontario) Ltd., an affiliate of New York-based private equity firm Alumina Partners LLC. providing a drawdown equity financing facility of up to $8,000,000 over the next twenty-four months.
For clarity purposes this is not a debt facility. Funds are advanced by way of a private placement with a common share at a regular discount and a warrant at a 25% premium to market. This is initiated at the Company’s request and has a maximum limit of up to $500,000 per request.
The Company will use the funds for general working capital and unique opportunities as they may arise in the context of the Company’s day to day business. In working with Alumina partners over the past two years the Company is extremely pleased with the timely execution of the private placements, and appreciative of the support and market knowledge the group possesses.
On behalf of the Board of Directors,
Christopher R. Anderson,
President, CEO and Director
Investor Relations: Sophy Cesar, 604-488-3900, ir@XimenMiningCorp.com