Ximen Mining Options Royalty Agreement on the Kenville Gold Mine Nelson BC

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[{"type":"text","content":"Ximen Mining Options Royalty Agreement on the Kenville Gold Mine Nelson BCVANCOUVER, BC / ACCESSWIRE / April 26, 2019 / Ximen Mining Corp. (TSX-V: XIM, \"Ximen\" or the \"Company\") announces that it has entered into a royalty option agreement (the \"Agreement\") with Gungnir Resources Inc. (\"Gungnir\") pursuant to which the Company has acquired an option (the \"Option\"), exercisable in the Company's sole discretion, to purchase all of Gungnir's remaining interest in its 4% gross metal royalty (the \"Royalty\") over the Kenville Gold Mine Property for total consideration of $1,700,000 (the \"Purchase Price\").To exercise the Option, Ximen will pay the Purchase Price as follows, all in accordance with the terms and conditions of the Agreement: $500,000 in cash, currently held in escrow and to be released to Gungnir upon approval of the transaction by the TSX Venture Exchange (\"TSXV\"); $200,000 in common shares of Ximen (the \"Shares\"), to be issued within 10 days after the TSXV approval at a price per share equal to the volume weighted average price of the Shares for the 20 trading days prior to the announcement date; and $1,000,000 in cash, to be paid on or before October 31, 2019. The exercise of the Option is subject to Ximen paying the Purchase Price as set out above and the receipt of TSXV approval on or before June 15, 2019 (unless such date is extended in accordance with the Agreement).Once issued, the Shares will be subject to a hold period of four months and a day from the date of issuance. A total of $3,000,000 remains payable under the terms of the Royalty. On behalf of the Board of Directors, \"Christopher R. Anderson\"Christopher R. Anderson, President, CEO and Director 604 488-3900 Investor Relations: Mr. William Sattlegger, 604-488-3900 [email protected] Ximen Mining Corp.Ximen Mining Corp. owns 100 percent interest in all three of its precious metal projects. Ximen's two gold projects, The Gold Drop Project and Brett Gold Project are located in southern British Columbia. Ximen also owns the Treasure Mountain Silver project adjacent to the past producing Huldra Silver Mine. Ximen is a publicly listed company trading on the TSX Venture Exchange under the symbol XIM, in the USA under the symbol XXMMF, and in Frankfurt, Munich, and Berlin Stock Exchanges in Germany under the symbol 1XM and WKN with the ...

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