Business
Callinex Announces Non-Brokered Financing To Raise $2,850,000
VANCOUVER, Dec. 12, 2011 /CNW/ - Callinex Mines Inc. ("Callinex") (TSXV: CNX) is pleased to a...
About this update from Visionary Copper And Gold Mines Inc.
[{"type":"text","content":"\n\n\n\n\n\nVANCOUVER, Dec. 12, 2011 /CNW/ - Callinex Mines Inc. (\"Callinex\") (TSXV:\n CNX) is pleased to announce that it intends to raise $2,850,000 through\n a non-brokered private placement of 3,000,000 units (the \"Units\") at\n the price of $0.95 per Unit.  Each Unit will consist of one\n flow-through common share and half of one non-transferable warrant (a\n \"Warrant\").  Each whole Warrant is exercisable to purchase a\n non-flow-through common share for a period of two years at an exercise\n price of $1.00.\n\n\nCallinex may pay a finder's fee on all or a portion of the private\n placement.\n\n\nCertain directors and officers of Callinex may acquire Units under the\n private placement. Any such participation would be considered to be a\n related party transaction as defined under Multilateral Instrument\n 61-101. The transaction will be exempt from the formal valuation and\n minority shareholder approval requirements of MI 61-101 as neither the\n fair market value of any securities so issued to or the consideration\n paid by such persons will exceed 25% of Callinex's market\n capitalization.\n\n\nCallinex intends to expend the net proceeds of the private placement on\n its properties in Manitoba.\n\n\nThe Units have not been registered under the U.S. Securities Act of\n 1933, as amended, or any state securities laws and may not be offered\n or sold in the United States absent registration or any applicable\n exemption from the registration requirements. This press release does\n not constitute an offer to sell or the solicitation of any offer to buy\n nor will there be any sale of the Units in any state in which such\n offer, solicitation or sale would be unlawful.\n\n\nThis private placement is subject to approval of the TSX Venture\n Exchange.\n\n\nOn behalf of Callinex Mines Inc.\n\n\nMike Muzylowski\n\n\nMike Muzylowski\nPresident & CEO\n\n\nNeither the TSX Venture Exchange nor its Regulation Services Provider\n (as that term is defined in the policies of the TSX Venture Exchange)\n accepts responsibility for the adequacy or accuracy of this release. \n\n\nCertain of the information presented in this News Release may constitute\n \"forward-looking statements\" or \"forward-looking information\" within\n the meaning of Canadian securities legislation (together referred to as\n \"forward-looking statem...