Ximen Mining Arranges Strategic Investment $2,500,000 Private Placement at a 40% Premium

About this update from Ximen Mining Corp.

[{"type":"text","content":"Ximen Mining Arranges Strategic Investment $2,500,000 Private Placement at a 40% PremiumVANCOUER, BC / ACCESSWIRE / January 20, 2022 / Ximen Mining Corp. (TSXV:XIM)(FRA:1XMA)(OTCQB:XXMMF) (the \"Company\" or \"Ximen\") is pleased to announce it has arranged a non-brokered private placement of 8,893,635 charity flow-through shares are priced at $0.285 per share with total gross proceeds of $2,534,686, a 42.5% premium to Ximen's current share price.Each Flow-Through share consists of one common share that qualifies as a \"flow-through share\" as defined in subsection 66(15) of the Income Tax Act. The closing of the Financing is expected to occur on or about February 2nd, 2022 and is subject to the receipt of regulatory approvals, including the approval of the TSX Venture Exchange.The Company will use the net proceeds from the Offering for exploration expenses on the Company's British Columbia mineral properties. The Shares are being issued as part of a charity flow-through arrangement. The Company will pay no commission or finders' fee in connection with this Offering.Ximen is prepared for an active precious metal's exploration season in 2022 with several drill permits in place. Recently added to the Permitted properties for drilling include the Amelia Gold Mine, Wild Horse Gold Belt, and The Bud-Elk Gold Copper Property. Previously and in addition too, in the pipeline for drilling are the Providence Silver and Gold project, The California Gold Mine, The Star Gold Property and Venus & Juno Gold Mine and The Brett Epithermal Gold property. This is of course outside the ongoing work that is being conducted currently at the Kenville Gold Mine. For a complete list of properties and further permitted assets please visit the company's website XimenMiningCorp.com257 Portal Reconstruction Completed - The Kenville Gold MineThe Brett Epithermal Gold property (near Vernon, BC) is an epithermal gold deposit (low-sulphidation type) with several gold drill intercepts including bonanza high grades over meter-scale widths and low-grade gold over tens of meters (see company website for details). Follow-up drilling of newly identified zones and in-fill drilling of the Main zone is planned.Ximen's Nelson BC properties are being targeted for gold-quartz veins, silver-gold veins and bulk mineable gold-copper mineralization. The gold vein system th...

More updates from Ximen Mining Corp.