Ximen Mining Corp Corporate Up

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VANCOUVER, BC / ACCESSWIRE / October 29, 2021 / Ximen Mining Corp. (TSXV: XIM, Financial)(FRA: 1XMA, Financial) (OTCQB: XXMMF) (the “Company” or “Ximen”) is pleased to announce that it has closed a broker-less private placement initially announced on October 22, 2021 of 4,545,456 flow-through shares at a price of 0, 22 cent share for gross proceeds of $ 1,000,000. Each flow-through share consists of one common share qualified as a “flow-through share” within the meaning of subsection 66 (15) of the Income Tax Act and one transferable common share purchase warrant. Each entire warrant will allow its 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 C $ 0.35. per share.

The net proceeds of the Offering will be used by the Company for exploration expenses on the Company’s mining properties in British Columbia.

The Company paid a cash commission of $ 70,000 and issued 318,182 warrants to Qwest Investment Fund Management Ltd. Warrants are valid for 3 years from closing with an exercise price of $ 0.22. All securities issued under the flow-through placement will be subject to a hold period expiring February 26, 2022. Closing of this private placement financing is subject to final approval by the TSX Venture Exchange.

The Company also announces that it has organized a non-brokered private placement of 1,818,182 flow-through shares at a price of $ 0.22 per share for gross proceeds of $ 400,000. Each flow-through share consists of one common share qualified as a “flow-through share” within the meaning of subsection 66 (15) of the Income Tax Act and one transferable common share purchase warrant. Each entire warrant will allow its 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 C $ 0.35. per share.

The net proceeds of the Offering will be used by the Company for exploration expenses on the Company’s mining properties in British Columbia.

Finder’s fees may be paid to eligible finders in accordance with the policies of the TSX Venture Exchange. All securities issued under the offer will be subject to a four month and one day hold period from the closing date. Both the offer and the payment of finder’s fees are subject to the approval of the TSX Venture Exchange.

On behalf of the Board of Directors,

Christopher R. Anderson

Christopher R. Anderson,
President, CEO and Director
604 488-3900

Investor Relations:
Sophie Caesar
604-488-3900
[email protected]

About Ximen Mining Corp

Ximen Mining Corp. holds a 100% interest in three of its precious metals projects located in southern British Columbia. The two Ximen gold projects, the Amelia gold mine and the Brett epithermal gold project. Ximen also owns the Treasure Mountain Silver Project adjacent to the former Huldra Silver Mine. Currently, the Treasure Mountain Silver project is subject to an option agreement. The option partner makes annual installment payments in cash and shares and funds the development of the project. The company also acquired control of the Kenville gold mine near Nelson, British Columbia, which includes surface and underground rights, buildings and equipment.

Ximen is a publicly traded company on the TSX Venture Exchange under the symbol XIM, in the United States under the symbol XXMMF and on the Frankfurt, Munich and Berlin stock exchanges in Germany under the symbol 1XMA and WKN with the number A2JBKL.

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This press release contains certain “forward-looking statements” within the meaning of Canadian securities This press release contains certain “forward-looking statements” within the meaning of Canadian securities laws, including statements regarding obtaining approval of the TSX Venture Exchange and the exercise of the Option by Ximen. While the Company believes these statements to be reasonable, it cannot guarantee that these expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words “discount”, “plans”, “anticipates”, “believes”, “intention”, “estimates”, “projects”, “objectives”, “potential”, “Objective”, “” objective “,” forward-looking “and similar expressions, or that events or conditions” shall “,” be “,” could “,” could “,” could “or” should “occur, or are those statements, which by their nature refer to future events. The company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the management of the company on the date to statements are made and that they involve a number of risks and uncertainties. Accordingly, there can be no assurance that such statements will prove to be accurate and that actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by the s applicable securities laws and policies of the TSX Venture Exchange, the Company assumes no obligation to update these forward-looking statements if the beliefs, estimates or opinions of management, or other factors, should change. . Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the possibility that the TSX Venture Exchange will not accept the proposed transaction in a timely manner, if at all. Readers are referred to the Company’s reports, publicly available through the Canadian Securities Administrators’ Electronic Document Analysis and Search System (SEDAR) at www.sedar.com for further discussion. comprehensive information on these risk factors and their potential effects.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, and there will be no sale of any securities in any state of the United States where such an offer, solicitation or sale would be. illegal.

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.

THE SOURCE: Ximen Mining Company.

See the source version on accesswire.com:
https://www.accesswire.com/670422/Ximen-Mining-Corp-Corporate-Update-Announcement

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