Camino Announces up to CAD$2.0 Million Private Placement; Proceeds to be Used to Advance Exploration Drilling at the Maria Cecilia Copper Project in Peru

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[{"type":"text","content":"Camino Announces up to CAD$2.0 Million Private Placement; Proceeds to be Used to Advance Exploration Drilling at the Maria Cecilia Copper Project in Peru VANCOUVER, BC / ACCESSWIRE / November 27, 2023 / Camino Minerals Corporation (TSXV:COR) (OTCQB:CAMZF) (WKN:A116E1) (\"Camino\" or the \"Company\") is pleased to announce that it is arranging a non-brokered private placement to raise total gross proceeds of up to CAD$2,000,000 (the \"Financing\").The Financing will consist of the issue of up to 33,333,334 units (each, a \"Unit\") at a price per Unit of CAD$0.06. Each Unit will consist of one common share and one common share purchase warrant (each, a \"Warrant\"), allowing holders to purchase an additional common share at an exercise price of CAD$0.10 per Warrant within thirty-six months following the closing date of the Financing. In the event the volume-weighted average closing price of the Company's common shares on the TSX Venture Exchange (the \"Exchange\") exceeds CAD$0.20 for twenty consecutive trading days, the Company retains the option to accelerate the expiry date of the Warrants to thirty days after a public announcement of its election to accelerate the expiry date of the Warrants. The Company may pay finders fees in connection with the Financing.The primary use of the gross proceeds will be the commencement of drilling activities at the Company's 100% owned Maria Cecilia porphyry complex (\"Maria Cecilia\") and for corporate working capital and business development activities. Two drilling campaigns are planned at Camino's two permitted copper properties in Peru. Drilling at the Los Chapitos Copper Project (\"Los Chapitos\") will commence in December, funded in co-operation with its Los Chapitos partner Nittetsu Mining Co., Ltd. (see news release dated November 23, 2023). The second drilling campaign is planned to commence consecutively at the fully permitted Maria Cecilia copper porphyry complex.The Company has received commitments as part of the Financing from a combination of executive management, directors, and existing shareholders of Camino. The participation in the Financing by related parties constitutes a \"related party transaction\" as defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (\"MI 61-101\") and Policy 5.9 - Protection of Minority Secu...

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