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Callinex Mines Closes Oversubscribed $2.1 million Private Placement Financing
Callinex Mines Closes Oversubscribed $2.1 million Private Placement Financing Canada Ne...
About this update from Visionary Copper And Gold Mines Inc.
[{"type":"text","content":"\n \n \n \n Callinex Mines Closes Oversubscribed $2.1 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 July 24, 2024\n \n \n /CNW/ -\n \n \n Callinex Mines Inc.\n \n \n (the \"Company\" or \"Callinex\") (TSXV: CNX) (OTCQX: CLLXF) is pleased to announce the closing of its previously announced non-brokered private placement of\n \n $2,094,409\n \n (the \"\n \n Financing\n \n \"), which represents an oversubscription of\n \n $594,409\n \n of the originally announced financing (see news release dated\n \n July 10, 2024\n \n ).\n \n \n \n \n \n \n \n \n \n The Financing consists of (i) 753,412 hard dollar units (the \"\n \n HD Units\n \n \") at a price of\n \n C$1.25\n \n per HD Unit (the \"\n \n HD Offering Price\n \n \") for gross proceeds of up to\n \n C$941,765\n \n ; and (ii) 543,700\n \n Manitoba\n \n flow-through units (the \"\n \n FT Units\n \n \") at a price of\n \n C$2.12\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 $1,152,644\n \n .\n \n \n Each HD Unit consists 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 consists of one flow-through common share and one-half of one transferrable Warrant to be issued on a non-flow-through basis. Each Warrant is 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$2.00\n \n per Warrant Share.\n \n \n The securities issued will be subject to restrictions on resale for a period of four months and day from the date of issue.  In connection with the Financing, the Company paid a finders' fee of\n \n $3,750\n \n to a registered finder.\n \n \n \n Michael Louie\n \n , an insider of the Company, has subscribed for 20,000 HD Units for gross proceeds of\n \n $25,000\n \n . The issuance of the HD Units to the insider is considered a related party transaction...