VANCOUVER, Nov. 22, 2013 /CNW/ - Callinex Mines Inc. (TSX.V-CNX) (OTCQX - CLLXF) (the "Company") is pleased to announce that is has closed its non-brokered private placement to raise proceeds of $200,070 by the issuance of 526,500 units (each a "Unit") at a price of $0.38 per Unit. Each Unit consists of one common share of the Company and one half of a 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.
The Company intends to use the proceeds of the private placement to advance its exploration activities in Manitoba.
All shares, Warrants and any shares issued upon exercise of the Warrants are subject to a four month hold period and may not be traded in Canada until March 23, 2014, except as permitted by applicable Canadian securities laws and 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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