Ximen Mining Financing

Rhea-AI Summary

Ximen Mining Corp (OTCQB:XXMMF) has announced a non-brokered private placement of 10 million units priced at $0.15 each, aiming to raise $1,500,000. Each unit consists of one common share and a warrant, allowing the purchase of an additional share at $0.25. Proceeds will fund exploration in British Columbia and working capital. Insiders may participate, and a finder's fee may be paid subject to TSX Venture Exchange approval. All securities are under a four-month hold period from closing.

Positive

• The company secured a non-brokered private placement of 10 million units, raising $1,500,000.
• Funds will support exploration activities in British Columbia.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / April 1, 2022 / Ximen Mining Corp. (TSX.V:XIM)(FRA:1XMA)(OTCQB:XXMMF) (the "Company" or "Ximen")

Is pleased to announce that it has arranged a non-brokered private placement of 10 million units at a price of $0.15 per unit for gross proceeds of $1,500,000. Each Unit consists of one common share and one transferable common share purchase warrant. Each whole warrant will entitle the holder to purchase, for a period of 24 months from the date of issue, one additional common share of the Issuer at an exercise price of $0.25 per share.

Directors, officers or other insiders of the Company may participate in the foregoing offerings. There is no material fact or material change of the Company that has not been generally disclosed. A finder's fee may be paid to eligible finders in accordance to 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 finders' fees are both subject to approval by the TSX-V.

The net proceeds from the Offering will be used by the Company for exploration expenses on the Company's British Columbia mineral properties and general working capital.

On behalf of the Board of Directors,

"Christopher R. Anderson"

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

Investor Relations:
Sophy Cesar
604-488-3900
ir@XimenMiningCorp.com

About Ximen Mining Corp.

Ximen Mining Corp. owns 100% interest in three of its precious metal projects located in southern BC. Ximen`s two Gold projects The Amelia Gold Mine and The Brett Epithermal Gold Project. Ximen also owns the Treasure Mountain Silver Project adjacent to the past producing Huldra Silver Mine. Currently, the Treasure Mountain Silver Project is under a option agreement. The option partner is making annual staged cash and stocks payments as well as funding the development of the project. The company has also acquired control of the Kenville Gold mine near Nelson British Columbia which comes with surface and underground rights, buildings and equipment.

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 1XMA and WKN with the number as A2JBKL.

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 legislation, including statements regarding the receipt of TSX Venture Exchange approval and the exercise of the Option by Ximen. Although the Company believes that such statements are reasonable, it can give no assurance that such 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 "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective," "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "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 Company's management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, 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 may not accept the proposed transaction in a timely manner, if at all. The reader is urged to refer to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful.

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.

Ximen Mining Corp

888 Dunsmuir Street - Suite 888, Vancouver, B.C., V6C 3K4 Tel: 604-488-3900

SOURCE: Ximen Mining Corp.

View source version on accesswire.com:
https://www.accesswire.com/695594/Ximen-Mining-Financing

FAQ

What is the purpose of the private placement by Ximen Mining Corp (XXMMF)?

The private placement aims to raise $1,500,000 for exploration expenses on mineral properties in British Columbia and for general working capital.

How much is Ximen Mining Corp raising in their latest private placement?

Ximen Mining Corp is raising $1,500,000 through a private placement of 10 million units.

What are the terms of the warrants issued in the private placement by Ximen Mining Corp (XXMMF)?

Each warrant will allow the holder to purchase an additional common share at an exercise price of $0.25, valid for 24 months from the date of issue.

What are the restrictions on the securities from the private placement by Ximen Mining Corp?

All securities issued in the offering will be subject to a hold period of four months and one day from the closing date.