Canamex Intends to Complete Equity Financing for Gross Proceeds up to $1,500,000

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[{"type":"text","content":"Canamex Intends to Complete Equity Financing for Gross Proceeds up to $1,500,000(via Thenewswire.ca)\n \n \nVancouver, British Columbia / TNW-ACCESSWIRE / September 8, 2014 / Canamex Resources Corp. (TSX-V: CSQ) (FSE: CX6) it intends to complete a private placement for gross proceeds of up to $1,500,000 (the \"Financing\"), subject to acceptance by the TSX Venture Exchange. These funds will be raised by the Company issuing up to 7,142,857 Units at a price of $0.21 per Unit (the \"Units\"), each Unit consisting of one common share and one-half share purchase warrant, each whole warrant entitling the holder thereof to purchase one additional common share, exercisable for a period of two years from the date of issuance at a price of $0.30 per share. \n\n \n \nProceeds will be used for exploration and development of the Company's Bruner Gold Project in Nevada, and for general working capital.\n\n \n \nThree (3) Insiders (the \"Related Parties\"), will directly and/or indirectly subscribe for an aggregate of up 952,382 Units from the Financing, which will increase those Related Parties' pro rata shareholdings in the Company (the \"Related Party Transaction\"). All of the independent directors of the Company, acting in good faith, have determined that the fair market value of the securities being issued and the consideration paid is reasonable and, with the value of the Related Party Transaction being less than 25% of the Company's market capitalization, is exempt from the formal valuation and minority shareholder approval requirements of the Multilateral Instrument 61-101. \n\n \n \nIn addition, in accordance with an agreement the Company has with Hecla Canada Ltd. (refer to CSQ News Release dated November 19, 2012), Hecla holds a pre-emptive right so long as it holds more than 10% of Canamex's outstanding shares (on an undiluted basis). In this regard, Hecla has the right (but not the obligation) to participate in equity offerings of Canamex in order to maintain Hecla's pro-rata equity interest in Canamex. \n\n \n \nFinders' fees may be paid in accordance with policies of TSX Venture Exchange. \n\n \n \nON BEHALF OF THE BOARD\n\n\n\n \nSIGNED: \"Greg Hahn\"\n\n\n \n\nGreg Hahn, President and CEO\nContact: Greg Hahn (604) 336-8612\n\n\n\n \nRenmark Financial Communications Inc.\n\n\n \nRobert Thaemlitz: [email protected]...

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