Source: Callinex Mines Inc.
  • Callinex Mines (CNX) has announced a private placement offering of up to $7,000,000
  • The placement will consist of an offering of units at a price of $3.15 per unit and an offering of charitable flow-through units at a price of $5.67 per Charity FT unit
  • Callinex Mines Inc. is advancing its portfolio of base and precious metals rich deposits located in established Canadian mining jurisdictions
  • Callinex Mines Inc. (CNX) opened trading at $3.88 per share

Callinex Mines (CNX) has announced a private placement offering for gross proceeds of up to $7,000,000.

The company signed an agreement with Research Capital Corporation to act as lead agent and sole bookrunner, on behalf of a syndicate of agents, including Beacon Securities Limited and Clarus Securities Inc.

The placement will consist of an offering of units at a price of $3.15 per unit and an offering of charitable flow-through units at a price of $5.67 per Charity FT unit.

Each unit will consist of one common share and one-half of one share purchase warrant. Each Charity FT unit will consist of a flow-through common share and one-half of one warrant. Each whole warrant shall entitle the holder to purchase one common share at an exercise price of $4.05 per warrant share at any time up to 24 months following the closing.

The net proceeds from the sale of units will be used for the company’s ongoing exploration drilling program, working capital requirements and other general corporate purposes. The gross proceeds from the sale of Charity FT units will be used for exploration expenses on the company’s Pine Bay project located in the Flin Flon Mining District of Manitoba.

The offering is scheduled to close on or about the week of March 6, 2023.

Callinex Mines Inc. is advancing its portfolio of base and precious metals-rich deposits located in established Canadian mining jurisdictions.

Callinex Mines Inc. (CNX) opened trading at $3.88 per share.


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