(via Thenewswire.ca)
Vancouver, British Columbia / TheNewswire / January 13, 2016 - Canadian International Minerals Inc. ("CIN" or the "Company") (TSX-V: CIN) is pleased to announce that it has closed its private placement of 2,007,500 units at a price of $0.035 per unit for total gross proceeds of $70,263. Each unit consists of one common share and one transferable share purchase warrant, each warrant exercisable into one additional common share until January 13, 2018, at a price of $0.05 per share in the first year of the term of the warrant and at a price of $0.07 per share in the second year of the term of the warrant.
The proceeds of the private placement will be used as follows:
|
Description |
Amount |
|
Internet/telephone |
$ 1,500.00 |
|
Legal/paralegal |
5,000.00 |
|
Accounting |
5,000.00 |
|
Michael Schuss, President & CEO |
5,000.00 |
|
Lac Manitou PGM project |
15,000.00 |
|
Leduc lithium project |
20,000.00 |
|
TSXV filing fees |
4,950.00 |
|
Unallocated working capital |
13,550.00 |
|
Total |
$70,000.00 |
All securities issued pursuant to the placement are subject to regulatory hold periods expiring on May 14, 2016.
For further information, please contact:
Canadian International Minerals Inc.
Michael E. Schuss
President and CEO
Phone: 604-241-2254
Email: info@cin-v.com
Website: www.cin-v.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking Information
This news release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements; the uncertainty of future profitability; and the uncertainty of access to additional capital. These risks and uncertainties could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and expressed qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.
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