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Callinex Announces $4.22 Million Private Placement Financing
Callinex Announces $4.22 Million Private Placement Financing Canada NewsWire ...
About this update from Visionary Copper And Gold Mines Inc.
[{"type":"text","content":"\n \n \n \n Callinex Announces $4.22 Million Private Placement Financing\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n March 30, 2022\n \n \n /CNW/ -\n \n \n Callinex Mines Inc.\n \n \n (the \"Company\" or \"Callinex\") (TSXV: CNX) (OTCQX: CLLXF) pleased to announce a non-brokered private placement of up to\n \n $4.22 million\n \n (the \"\n \n Offering\n \n \").  The Offering will be used to fund the ongoing drill campaign at the Rainbow Deposit, Pine Bay,\n \n Manitoba\n \n .\n \n \n \n \n \n \n \n \n \n The Offering will consist of (i) up to 321,544 hard dollar units (the \"\n \n HD Units\n \n \") at a price of\n \n C$3.11\n \n per HD Unit (the \"\n \n HD Offering Price\n \n \") for gross proceeds of up to\n \n C$1 million\n \n ; and (ii) up to 644,000\n \n Manitoba\n \n flow-through units (the \"\n \n FT Units\n \n \") at a price of\n \n C$5.00\n \n per FT Unit (the \"\n \n MB\n \n \n FT Offering Price\n \n \") for gross proceeds of up to\n \n $3.22 million\n \n .\n \n \n Each HD Unit shall consist of one common share and one-half of one transferable common share purchase warrant (each whole such common share purchase warrant, a \"\n \n Warrant\n \n \"). Each FT Unit shall consist of one flow-through common share and one-half of one transferrable Warrant to be issued on a non-flow-through basis. Each Warrant shall be exercisable into one additional common share (a \"\n \n Warrant Share\n \n \") for two (2) years from closing at an exercise price of\n \n C$4.75\n \n per Warrant Share.\n \n \n The Warrants will be subject to an acceleration clause whereby if at any time the volume-weighted average trading price of the common shares exceeds\n \n C$6.25\n \n for a period of 15 consecutive trading days, the Company is entitled, as its option, to accelerate the expiry date of the Warrants by delivering written notice to the holders of the Warrants, to a date that is not less than 30 days after such notice is given.\n \n \n The Company will pay finders a fee consisting of a cash and/or sha...