Business
Canadian International Minerals Inc. Completes Database Transaction With Kaminak Gold Corp.
(via Thenewswire.ca) February 19 , 2016 / TheNewswire / Vancouver, British Columbia ...
About this update from Egr Exploration Ltd
[{"type":"text","content":"Canadian International Minerals Inc. Completes Database Transaction With Kaminak Gold Corp.(via Thenewswire.ca)\n\n \nFebruary 19, 2016 / TheNewswire / Vancouver, British Columbia - Canadian International Minerals Inc. (\"Canadian International\", the \"Company\") (TSX-V: CIN) is pleased to announce that it has completed the transaction with Kaminak Gold Corporation (\"Kaminak\") (TSX-V: KAM) for the purchase of an extensive proprietary database on the Company's recently acquired Lac Manitou property. In consideration for the acquisition, the Company issued a total of 3,500,000 units to Kaminak, each unit consisting of one common share of the Company and one share purchase warrant, with each warrant exercisable into an additional common share at a price of $0.10 per share until February 11, 2019. \n\n \n \nAs a result of the transaction, Kaminak now holds 7.8% of the Company's current issued and outstanding common shares. Should Kaminak exercise all of its warrants, it would hold approximately 14.5% of the Company's common shares on a fully diluted basis, based on the current issued and outstanding common shares of the Company.\n\n \n \n\"We welcome Kaminak as shareholders and hope to build on their support in a tough operating environment for junior explorers. We feel the Lac Manitou project hosts some of the best untested Ni-Cu-PGM targets in Canada - targets that likely would have been drill-tested by Kaminak if not for their discoveries at the Coffee project in the Yukon. With the database transaction now completed, we will be undertaking a full review of the project, with the near-term goal of a spring ground-proofing program,\" stated Michael E. Schuss, President & Chief Executive Officer of Canadian International.\n\n \n \nQualified Person\n\n \n \nThe technical data in this news release has been reviewed by Thomas Hasek, P. Eng., a Qualified Person under the terms of N.I. 43-101.\n\n \n \nAbout Canadian International Minerals Inc.\n\n \n \nCanadian International Minerals Inc. is a junior mining exploration company with diamond properties in Saskatchewan, and copper and rare-earth properties in British Columbia.\n\n \n \nFor further information, please contact:\n\n \n \nCanadian International Minerals Inc.\n\n\n \nMichael E. Schuss\n\n\n \nPresident and CEO\n\n\n \nPhone: 604-241-2254\n\n \n \nWebsite: www.cin-v.com\n...