Business
Callinex Closes Private Placement to Raise $546,524 and Announces Change to Board of Directors
VANCOUVER , Oct. 23, 2013 /CNW/ - Callinex Mines Inc. (TSX.V-CNX) (OTCQX - CLLXF) (the "...
About this update from Visionary Copper And Gold Mines Inc.
[{"type":"text","content":"\n\n\nVANCOUVER, Oct. 23, 2013 /CNW/ - Callinex Mines Inc. (TSX.V-CNX) (OTCQX\n - CLLXF) (the \"Company\") is pleased to announce that is has closed its\n non-brokered private placement to raise gross proceeds of $546,524 by\n the issuance of 1,561,499 units (each a \"Unit\") at a price of $0.35 per\n Unit. Each Unit consists of one common share of the Company and one\n half of a share purchase warrant (a \"Warrant\"). Each whole Warrant will\n entitle the holder to purchase one additional common share of the\n Company for a period of two years from closing the private placement at\n the price of $0.35 per share in the first year and $0.40 per share in\n the second year.\n\n\nIn connection with the private placement, Callinex paid a finders' fee\n in the amount of $15,555.74 in cash and the issuance of finder's\n warrants exercisable to purchase 44,444 shares of the Company for a\n period of two years from closing the private placement at the price of\n $0.35 per share in the first year and $0.40 per share in the second\n year.\n\n\nThe Company intends to use the net proceeds of the private placement to\n advance its exploration activities in Manitoba.\n\n\nAll shares, warrants and any shares issuable on exercise of warrants\n issued with respect to this private placement are subject to a\n four-month hold period and may not be traded in Canada until February\n 24, 2014, except as permitted by applicable Canadian securities laws\n and the TSX Venture Exchange.\n\n\nThe company would like to welcome Mr. Michael Louie to their board of\n directors. Mr. Louie is a partner in D+H Group LLP, a Vancouver based\n Chartered Accounting Firm. Mr. Louie has considerable experience\n working on behalf of First Nations groups as well as a familiarity with\n the Canadian mining business and Canadian accounting practices. He\n holds a Bachelor of commerce degree from the University of British\n Columbia.\n\n\nAdditionally, Mervyn Snider has left the Company's Board of Directors.\n The Company thanks him for his years of loyal service and wishes him\n well.\n\n\nOn Behalf of the Board of Directors,\n\n\nJ.J. O'Donnell\n\n\nJ.J. O'Donnell\nPresident and 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...