Camino Announces Restructured Private Placement of up to C$2.0 Million and Proposed Consolidation
Camino Minerals (TSXV:COR)(OTC:CAMZF) has restructured its previously announced C$2 million non-brokered private placement and proposed a 6:1 share consolidation. The restructured financing will issue up to 9,523,809 post-consolidation shares at C$0.21 per share. Denham Capital will participate with $500,000, while CEO Jay Chmelauskas plans to invest C$200,000.
The proceeds will fund corporate working capital, legal expenses, engineering studies, and administrative expenses. Additionally, the company plans to start an exploration drilling campaign at its Los Chapitos copper property in Peru, supported by C$1.5M in previous funding from Nittetsu Mining Co.,
The share consolidation will reduce outstanding shares from 209,251,638 to 34,875,273. The consolidation aims to align share pricing with TSXV policies regarding minimum issue prices for financing.
Camino Minerals (TSXV:COR)(OTC:CAMZF) ha ristrutturato il suo precedente collocamento privato non mediato da 2 milioni di dollari canadesi e ha proposto una consolidazione delle azioni in un rapporto di 6:1. Il finanziamento ristrutturato emetterà fino a 9.523.809 azioni post-consolidamento a 0,21 $ CAD per azione. Denham Capital parteciperà con 500.000 $, mentre il CEO Jay Chmelauskas prevede di investire 200.000 $ CAD.
I proventi finanzieranno il capitale di lavoro aziendale, le spese legali, gli studi ingegneristici e le spese amministrative. Inoltre, l'azienda prevede di avviare una campagna di esplorazione con perforazioni presso la sua proprietà di rame Los Chapitos in Perù, supportata da 1,5 milioni di dollari canadesi in precedenti finanziamenti da Nittetsu Mining Co.
La consolidazione delle azioni ridurrà le azioni in circolazione da 209.251.638 a 34.875.273. L'obiettivo della consolidazione è allineare il prezzo delle azioni con le politiche della TSXV riguardanti i prezzi minimi di emissione per il finanziamento.
Camino Minerals (TSXV:COR)(OTC:CAMZF) ha reestructurado su colocación privada no intermedia previamente anunciada de 2 millones de dólares canadienses y ha propuesto una consolidación de acciones de 6:1. La financiación reestructurada emitirá hasta 9,523,809 acciones post-consolidación a 0,21 $ CAD por acción. Denham Capital participará con 500,000 $, mientras que el CEO Jay Chmelauskas planea invertir 200,000 $ CAD.
Los ingresos se destinarán a financiar el capital de trabajo corporativo, gastos legales, estudios de ingeniería y gastos administrativos. Además, la empresa planea iniciar una campaña de perforación exploratoria en su propiedad de cobre Los Chapitos en Perú, respaldada por 1.5 millones de dólares canadienses en financiamiento previo de Nittetsu Mining Co.
La consolidación de acciones reducirá las acciones en circulación de 209,251,638 a 34,875,273. La consolidación tiene como objetivo alinear el precio de las acciones con las políticas de la TSXV relacionadas con los precios mínimos de emisión para financiamiento.
카미노 미네랄스 (TSXV:COR)(OTC:CAMZF)는 200만 캐나다 달러의 비중개 개인 배치를 재구성하고 6:1 비율의 주식 통합을 제안했습니다. 재구성된 자금 조달은 0.21 캐나다 달러의 가격으로 통합 이후 최대 9,523,809 주식을 발행합니다. 데넘 캐피탈은 50만 달러를 참여하며, CEO 제이 크멜라우스카스는 20만 캐나다 달러를 투자할 계획입니다.
수익금은 기업 운영 자산, 법적 비용, 엔지니어링 연구 및 관리 비용을 지원하는 데 사용됩니다. 또한, 회사는 이전에 닛테쓰 광업 회사로부터 받은 150만 캐나다 달러의 지원을 받아 페루의 로스 차피토스 구리 자산에서 탐사 드릴링 캠페인을 시작할 계획입니다.
주식 통합은 총 발행 주식을 209,251,638 주에서 34,875,273 주로 줄입니다. 통합의 목적은 자금 조달을 위한 최소 발행 가격과 관련하여 TSXV 정책에 따라 주식 가격을 조정하는 것입니다.
Camino Minerals (TSXV:COR)(OTC:CAMZF) a restructuré son placement privé non intermédiaire de 2 millions de dollars canadiens précédemment annoncé et a proposé une consolidation des actions dans un rapport de 6:1. Le financement restructuré émettra jusqu'à 9 523 809 actions après consolidation au prix de 0,21 $ CAD par action. Denham Capital participera avec 500 000 $, tandis que le PDG Jay Chmelauskas envisage d'investir 200 000 $ CAD.
Les produits serviront à financer le fonds de roulement de l'entreprise, les frais juridiques, les études d'ingénierie et les frais administratifs. De plus, l'entreprise prévoit de lancer une campagne de forage d'exploration sur sa propriété de cuivre Los Chapitos au Pérou, soutenue par 1,5 million de dollars canadiens de financements antérieurs de Nittetsu Mining Co.
La consolidation des actions réduira le nombre d'actions en circulation de 209 251 638 à 34 875 273. L'objectif de la consolidation est d'aligner le prix des actions avec les politiques de la TSXV concernant les prix d'émission minimum pour le financement.
Camino Minerals (TSXV:COR)(OTC:CAMZF) hat seine zuvor angekündigte nicht vermittelte Privatplatzierung in Höhe von 2 Millionen kanadischen Dollar umstrukturiert und eine Aktienkonsolidierung im Verhältnis 6:1 vorgeschlagen. Die umstrukturierte Finanzierung wird bis zu 9.523.809 nach der Konsolidierung ausgegebene Aktien zu je 0,21 CAD ausgeben. Denham Capital wird mit 500.000 $ teilnehmen, während der CEO Jay Chmelauskas plant, 200.000 $ CAD zu investieren.
Die Einnahmen werden zur Finanzierung des Betriebskapitals, rechtlicher Ausgaben, Ingenieurausgaben und Verwaltungskosten verwendet. Darüber hinaus plant das Unternehmen, eine Explorationsbohrkampagne in seinem Kupferprojekt Los Chapitos in Peru zu starten, zu unterstützen durch 1,5 Millionen kanadische Dollar aus früheren Finanzierungen von Nittetsu Mining Co.
Die Aktienkonsolidierung wird die ausstehenden Aktien von 209.251.638 auf 34.875.273 reduzieren. Ziel der Konsolidierung ist es, den Aktienpreis mit den TSXV-Richtlinien bezüglich der Mindestemissionspreise für Finanzierungen in Einklang zu bringen.
- Secured C$2 million in private placement financing
- C$1.5M additional funding from Nittetsu Mining for Los Chapitos exploration
- Strong insider participation with CEO investing C$200,000
- Strategic investment of $500,000 from Denham Capital
- 6:1 share consolidation indicates significant share price decline
- Restructuring of previously announced financing terms suggests potential challenges in initial execution
VANCOUVER, BC / ACCESSWIRE / January 10, 2025 / Camino Minerals Corporation (TSXV:COR)(OTC PINK:CAMZF) ("Camino" or the "Company") today announced that, following discussions with the TSX Venture Exchange (the "TSXV"), the Company has restructured its previously announced C
Restructured Financing
The Financing will continue to provide for an equity raise of aggregate gross proceeds of up to C
The gross proceeds from the Financing will be applied towards corporate working capital, legal expenses, engineering studies, and general administrative expenses.
In addition, the Company plans to commence an exploration drilling campaign at its Los Chapitos copper property in Peru with an additional C
Separate Denham Capital-advised funds hold an aggregate shareholder interest in Camino of approximately
The participation in the Financing by related parties constitutes a "related party transaction" as defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") and Policy 5.9 - Protection of Minority Security Holders in Special Transactions of the TSXV. Pursuant to sections 5.5(a) and 5.7(1)(a) of MI 61-101, the Company is exempt from obtaining a formal valuation and minority approval of the Company's shareholders in respect of the related party participation in the Financing due to the fair market value of the related party participation being below
All Shares issued and sold under the Financing will be subject to a hold period expiring four months and one day from their date of issuance. Completion of the Financing remains subject to the receipt of all necessary regulatory approvals, including TSXV approval of the Consolidation (as described below).
Consolidation
The Consolidation is being undertaken to better align the issue price of the Shares in the Financing with the policies of the TSXV governing the minimum permissible issue price per Share issued in a financing, which, given the particulars of the Financing (which is being conducted in the context of the Company's previously announced acquisition of the construction-ready Puquios copper mine in Chile) and taken together with the application of the definition of "Market Price" in TSXV Policy 1.1 - Interpretation, require the Shares to be issued at an issue price of not less than C
About Camino Corp.
Camino is a discovery and development stage copper exploration company. On October 7, 2024, Camino signed a Definitive Agreement to purchase the construction-ready Puquios copper mine in Chile. Camino is focused on developing copper producing assets such as Puquios, and advancing its IOCG Los Chapitos copper project located in Peru through to resource delineation and development, and to add new discoveries. Camino has also permitted the Maria Cecilia copper porphyry project for exploration discovery drilling to add to its NI 43-101 resources. In addition, Camino has increased its land position at its copper and silver Plata Dorada project. Camino seeks to acquire a portfolio of advanced copper assets that have the potential to deliver copper into an electrifying copper intensive global economy. For more information, please refer to Camino's website at www.caminocorp.com.
ON BEHALF OF THE BOARD
/S/ "Jay Chmelauskas"
President and CEO
For further information, please contact:
Camino Investor Relations
info@caminocorp.com
Tel: (604) 493-2058
Neither 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.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available.
Cautionary Note Regarding Forward-Looking Statements: Certain disclosures in this release constitute forward-looking information. In making the forward-looking disclosures in this release, the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company. Forward-looking information in the release includes, without limitation, the terms and conditions of the Financing, the Consolidation, the subscription commitments to the Financing, the closing of the Puquios Acquisition, the use of proceeds of the Financing, the timing and ability of the Company to obtain final approval of the Financing and Consolidation from the TSXV, and an exemption being available under MI 61-101 and Policy 5.9 of the TSX Venture Exchange from the minority shareholder approval and valuation requirements. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking information in this release is subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking information. Such risk factors include, among others, that actual results of the Company's exploration activities may be different than those expected by management, that the Financing may not be fully subscribed or completed on the terms described herein, that the Company may be unable to obtain or will experience delays in obtaining any required authorizations and approvals and the state of equity and commodity markets. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
SOURCE: Camino Minerals Corp
View the original press release on accesswire.com
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