Canadian International Minerals Inc. Announces Private Placement
March 14, 2016 (Source) — Canadian International Minerals Inc. (the “Company“) (CIN – TSX Venture) announces that it has arranged, subject to TSX Venture Exchange acceptance, a private placement of up to 1,500,000 units at a price of $0.035 per unit for total gross proceeds of up to $52,500. Each unit will consist of one common share and one transferable share purchase warrant, each warrant exercisable into one additional common share for a period of two years from the date of issue at a price of $0.05 per share in the first year of the term of the warrant and at a price of $0.07 per share in the second year of the term of the warrant.
Finders’ fees may be payable in whole or in part on the private placement pursuant to the policies of the TSX Venture Exchange.
The proceeds of the private placement will be used as follows:
|Leduc lithium project (including site visit)||$18,500.00|
|Michael Schuss, President & CEO||5,000.00|
|Casey Forward, CFO||5,000.00|
|TSX Venture Exchange – sustaining fees||5,500.00|
|Office and administration||3,000.00|
|Unallocated working capital||8,000.00|
Unallocated working capital will be used to maintain operations and cover general and administrative expenses.
For further information, please contact:
Canadian International Minerals Inc.
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Michael E. Schuss
President and CEO
This news release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company. The following are important factors that could cause the Company’s actual results to differ materially from those expressed or implied by such forward looking statements; the uncertainty of future profitability; and the uncertainty of access to additional capital. These risks and uncertainties could cause actual results and the Company’s plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and expressed qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking information should circumstances or management’s estimates or opinions change.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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