VANCOUVER, Nov. 4, 2013 /CNW/ - Callinex Mines Inc. (TSXV: CNX) (OTCQX: CLLXF) (the "Company") is pleased to announce that is conducting a private placement (the "Private Placement") of up to 1,000,000 units (each a "Unit") of the Company at the price of $0.38 per Unit. Each Unit will consist of one common share of the Company and one half of one share purchase warrant (a "Warrant"). Each whole Warrant will entitle the holder to purchase one additional common share of the Company for a period of two years from closing the Private Placement at the price of $0.38 per share in the first year and $0.45 per share in the second year.
In connection with the Private Placement, the Company may pay a finder's fee on all or a portion of the financing.
The net proceeds of the Private Placement will be added to the Company's working capital.
The Units have not been registered under the U.S. Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the Units in any state in which such offer, solicitation or sale would be unlawful.
The Private Placement is subject to acceptance for filing by the TSX Venture Exchange.
On Behalf of the Board of Directors,
President and CEO
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.
Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to future expenditures. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the ability to complete contemplated work programs and the timing and amount of expenditures. Callinex does not assume the obligation to update any forward-looking statement.
SOURCE: Callinex Mines Inc.
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