Proceeds used to advance company's exploration activities in Manitoba
By Devika Patel
Knoxville, Tenn., July 5 - Callinex Mines Inc. said it increased its private placement of units to C$1.35 million from C$1.1 million. The deal priced June 12.
The company will now sell 9 million units of one flow-through common share and one warrant at C$0.15 per unit. Each two-year warrant will be exercisable at C$0.20, a 42.86% premium to the June 11 closing share price of C$0.14.
Proceeds will be used to advance the company's exploration activities in Manitoba.
Callinex is a base metals exploration company based in Vancouver, B.C.
| Issuer: | Callinex Mines Inc.
|
| Issue: | Units of one flow-through common share and one warrant
|
| Amount: | C$1.35 million
|
| Units: | 9 million
|
| Price: | C$0.15
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.20
|
| Pricing date: | June 12
|
| Upsized: | July 5
|
| Stock symbol: | TSX Venture: CNX
|
| Stock price: | C$0.14 at close June 11
|
| Market capitalization: | C$2.64 million
|
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