Business
Camino Announces Private Placement and New Management Appointments
Edmonton, Alberta--(Newsfile Corp. - January 21, 2020) - Camino Minerals Corp. (TSXV: COR) (...
About this update from Camino Minerals Corporation
[{"type":"text","content":"Camino Announces Private Placement and New Management AppointmentsEdmonton, Alberta--(Newsfile Corp. - January 21, 2020) - Camino Minerals Corp. (TSXV: COR) (OTCQB: CAMZF) (WKN: A116E1) (\"Camino\" or the \"Company\") is pleased to announce that it has agreed to appoint Keith Peck to the new role of Chairman, and Jay Chmelauskas to the role of CEO and Director, to develop the advanced exploration stage Chapitos copper project, based in Chala, Peru. John Williamson has agreed to step down as CEO, but will remain involved with Camino as a member of a newly formed Advisory Board. The new leadership team plans to focus its efforts on the development of the Chapitos copper project as a potential copper oxide heap leach property. The Company is also pleased to announce that it has arranged a non-brokered private placement for gross proceeds of $600,000 which will be used to advance its exploration strategy and for general working capital. The financing will be subscribed for largely by Keith Peck and Jay Chmelauskas. The non-brokered private placement consists of 7,500,000 units at a price of $0.08 per unit, each unit being comprised of one common share and one non-transferable share purchase warrant. The common shares, warrants and any shares issued on the exercise of warrants will be subject to a four-month hold period expiring four months following the date of issue. Each warrant will entitle the holder to acquire one additional common share of the Company at a price of $0.105 per common share for a period of two years following the closing date. Completion of the private placement and appointments are subject to approval of the TSX Venture Exchange.Mr. Peck is a Chartered Business Valuator (CBV) and was a founder of Centenario Copper Corporation, a Chilean copper company that was acquired by Quadra Mining Ltd. in 2009. He has over 30 years of investment banking experience including Vice-President and Director of RBC Dominion Securities Inc., Haywood Securities Inc. and Vice-Chairman of Yorkton Securities Inc. Mr. Peck has a broad business background that includes financings in public and private markets, mergers and acquisitions, corporate restructurings and business valuations.Mr. Peck commented \"we believe Camino has a project that has the potential size and grade to build copper production. We plan to systematically explore th...