Canamex Announces Financing of up to Cdn$2,000,000 of Secured Convertible Debentures

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[{"type":"text","content":"Canamex Announces Financing of up to Cdn$2,000,000 of Secured Convertible Debentures(via Thenewswire.ca)\n \n \nVancouver, BC / TheNewswire / September 29, 2015 - Canamex Resources Corp. (TSX-V: CSQ) (FSE: CX6) announces that it intends to complete a non-brokered private placement for gross proceeds of up to Cdn$2,000,000 (the \"Offering\"), subject to acceptance by the TSX Venture Exchange (\"TSX-V\"). \n\n \n \nThese funds will be raised by the Company issuing an aggregate principal amount of up to Cdn$2,000,000 of secured convertible debentures (the \"Debentures\"), maturing in one year after closing of the Offering (the \"Maturity Date\"). From and after the date of issue until the Maturity Date, the Debentures will be convertible into units (\"Units\") at the option of the holder at a conversion price of $0.05 per Unit (the \"Conversion Price\"). \n\n \n \nEach Unit will be comprised of one common share of the Company (\"Common Share\") and one-half of one warrant (\"Warrant\"). Each whole Warrant will be exercisable into one Common Share on or before March 15, 2017 at an exercise price of $0.05 per share. Interest on the Debentures shall be paid quarterly in arrears, at an annual rate of interest of 10% per annum.\n\n \n \nThe Debentures shall have a first ranking security over the Company's interest in its joint venture with Provex Resources in respect of the Bruner Gold Property, such joint venture to be formally set up in the near future.\n\n \n \nThe proceeds from the Offering will be used for property payments, exploration drilling, metallurgy and a Preliminary Economic Assessment with respect to the Bruner Gold Property in Nye County, Nevada, and for general working capital.\n\n \n \nIn connection with the Offering, and subject to acceptance from the TSX Venture Exchange, up to 2,100,000 compensation warrants (\"Compensation Warrants\") will be issued to finders. Each Compensation Warrant will be exercisable into one Common Share for two (2) years from closing of the Offering at an exercise price of $0.05 per share.\n\n \n \nMark Billings, Chairman and CEO of Canamex, commented, \"Upon closing of this Offering, Canamex will continue with its business plan of enhancing value of the Bruner Gold Property with additional exploration and related work. The financial markets, especially for junior resource companies like ou...

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