Colombian Mines Corporation Announces $5 Million Private Placement Unit Financing

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[{"type":"text","content":"\n\n\n\n Feb. 9, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR\n DISSEMINATION IN THE UNITED STATES/\n\n\nVANCOUVER, Feb. 9 /CNW/ - (TSX Venture Exchange: CMJ) - Colombian Mines Corporation ("Colombian\n Mines" or "the Company") is pleased to announce that it has entered into an agreement with\n Canaccord Genuity Corp. (the "Agent"), to sell 7,150,000 units (the\n "Units") on a private placement commercially reasonable efforts basis\n at a price of C$0.70 per Unit for gross proceeds of up to C$5,005,000\n (the "Brokered Offering").  In addition, the Company will grant the\n Agent an over-allotment option, exercisable prior to the closing of the\n Brokered Offering, to purchase from the Company up to an additional\n 1,080,000 Units at C$0.70 per Unit to raise additional gross proceeds\n of up to C$756,000 (the "Over-Allotment Option", and together with the\n Brokered Offering, the "Offering").\n\n\nEach Unit shall consist of one common share of the Company and one half\n of one common share purchase warrant (each whole warrant, a\n "Warrant").  Each Warrant shall be exercisable into one common share of\n the Company for a period of 24 months from closing at an exercise price\n of C$1.15.\n\n\nThe Agent will receive a cash commission on the sale of the Units\n representing 6.5% of the gross proceeds raised and brokers warrant...

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