Ximen Mining Corp Corporate Update Announcement

About this update from Ximen Mining Corp.

[{"type":"text","content":"Ximen Mining Corp Corporate Update AnnouncementVANCOUVER, BC / ACCESSWIRE / October 29, 2021 / Ximen Mining Corp. (TSXV:XIM)(FRA:1XMA)(OTCQB:XXMMF) (the \"Company\" or \"Ximen\") is pleased to announce that it has closed a non-brokered private placement originally announced on October 22, 2021 of 4,545,456 flow through shares at a price of $0.22 cents per share for gross proceeds of $1,000,000. 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 and one transferable common share purchase warrant. Each whole warrant will entitle the holder to purchase, for a period of 36 months from the date of issue, one additional non-flow-through common share of the Issuer at an exercise price of Cdn$0.35 per share.The net proceeds from the Offering will be used by the Company for exploration expenses on the Company's British Columbia mineral properties.The Company paid a cash commission of $70,000 and issued 318,182 finders warrants to Qwest Investment Fund Management Ltd. The finder warrants are valid for 3 years from closing with an exercise price of $0.22. All securities issued in connection with the flow through Offering will be subject to a hold period expiring February 26, 2022. The closing of this private placement financing is subject to final TSX-V approval.The Company also announces that it has arranged a non-brokered private placement of 1,818,182 flow through shares at a price of $0.22 cents per share for gross proceeds of $400,000. 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 and one transferable common share purchase warrant. Each whole warrant will entitle the holder to purchase, for a period of 36 months from the date of issue, one additional non-flow-through common share of the Issuer at an exercise price of Cdn$0.35 per share.The net proceeds from the Offering will be used by the Company for exploration expenses on the Company's British Columbia mineral properties.A finder's fee may be paid to eligible finders in accordance with the TSX Venture Exchange policies. All securities issued pursuant to the offering will be subject to a hold period of four months and one day from the date of closing. The offering and payment of find...

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