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Callinex Mines Increases Private Placement Financing to $6.24 Million
Callinex Mines Increases Private Placement Financing to $6.24 Million Canada Ne...
About this update from Visionary Copper And Gold Mines Inc.
[{"type":"text","content":"\n \n \n \n Callinex Mines Increases Private Placement Financing to $6.24 Million\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 April 12, 2022\n \n \n /CNW/ -\n \n \n \n \n Callinex Mines Inc.\n \n \n (the \"Company\" or \"Callinex\") (TSXV: CNX) (OTCQX: CLLXF) is pleased to announce that, due to strong demand, it has increased the size of its previously announced non-brokered private placement (\n \n See News Release dated\n \n March 30, 2022\n \n )\n \n from\n \n C$4.22 million\n \n to\n \n C$6.24 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 now consist of (i) up to 453,446 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$1,410,217\n \n ; and (ii) up to 966,000\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 $4,830,000\n \n .\n \n \n Each HD Unit shall continue to 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 cause 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 del...