Vancouver, B.C., July 4, 2022 – Ximen Mining Corp. (TSX.v: XIM) (FRA: 1XMA) (OTCQB: XXMMF) (the “Company” or “Ximen”) is pleased to announce that its previously announced private placement on June 28, 2022, is fully subscribed and the Company is submitting documentation with the TSX Venture Exchange to close the placement.
The non-brokered private placement is for 8 million units at a price of $0.07 per unit for gross proceeds of $560,000. Each Unit consists of one common share and one transferable common share purchase warrant. Each whole warrant will entitle the holder to purchase, for a period of 60 months from the date of issue, one additional common share of the Issuer at an exercise price of $0.10 per share.
Directors, officers or other insiders of the Company may participate in the foregoing offerings, and such parties may sell securities of the Company owned or controlled by them personally through the facilities of the TSX Venture Exchange to finance participation in such offerings. There is no material fact or material change of the Company that has not been generally disclosed. A finder’s fee may be paid to eligible finders in accordance with the TSX Venture Exchange policies. All securities issued pursuant to the offering will be subject to a hold period of four months and one day from the date of closing. The offering and payment of finders’ fees are both subject to approval by the TSX-V. The net proceeds from the Offering will be used by the Company for exploration expenses on the Company’s British Columbia mineral properties and general working capital.
On behalf of the Board of Directors,
Christopher R. Anderson,
President, CEO and Director
Investor Relations: Sophy Cesar, 604-488-3900, ir@XimenMiningCorp.com