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Callinex Mines Announces Flow-Through Financing To Advance Zinc Assets
VANCOUVER, Feb. 1, 2018 /CNW/ - Callinex Mines Inc. (the "Company" or "Callinex") (TSX-V: CNX; OTCQX: CLLXF) is pleased to announce that it intends to complete
About this update from Visionary Copper And Gold Mines Inc.
[{"type":"text","content":"VANCOUVER, Feb. 1, 2018 /CNW/ - Callinex Mines Inc. (the \"Company\" or \"Callinex\") (TSX-V: CNX; OTCQX: CLLXF) is pleased to announce that it intends to complete non-brokered private placement (the \"Offering\") of up to 3,750,000 flow-through shares at a price of $0.40 per share for gross proceeds of up to $1,500,000. The proceeds of the Offering will be used to conduct exploration activities on its portfolio of zinc-rich assets in the Bathurst and Flin Flon mining districts. It is anticipated the proceeds will be primarily allocated towards advancing the Company's 100% owned Nash Creek and Superjack projects within the Bathurst Mining District of New Brunswick. Callinex recently announced that it has materially expanded the Nash Creek Deposit based on drilling completed in 2017 and anticipates further drilling is likely to increase the known extent of mineralization. The Nash Creek Deposit is located approximately 1 km from Provincial Highway 11, high-voltage transmission lines and only 25 km by road to Glencore's Brunswick Smelter, deep water port, railway and power plant near the town of Belledune. The Company anticipates publishing an updated resource estimate and maiden Preliminary Economic Assessment within the second quarter of 2018. All securities issued under the Offering will be subject to a four-month hold period from the date of completion. Furthermore, Callinex may pay a finder's fee equal to 7% of gross proceeds. The Company's corporate presentation can be viewed by clicking here, or visiting www.callinex.ca. This press release is not an offer of securities for sale in the United States. The securities described in this press release have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act of 1933, as amended) absent registration or an exemption from registration. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction where such offer, solicitation, or sale would be unlawful. About Callinex Mines Inc. Callinex Mines Inc. (TSX-V: CNX ; OTCQX: CLLXF) is advancing its portfolio of zinc rich deposits located in established Canadian m...