TSXV:CMJ - Post Discussion
Post by
churchfilo on Nov 05, 2013 9:49am
More news!
Tuesday, November 05, 2013
Colombian Mines Announces $1.0 Million Non-Brokered Private Placement
Vancouver, British Columbia, November 5, 2013 (TSX-V: CMJ, Frankfurt: X6C) - Colombian Mines Corporation ("Colombian Mines" or the "Company") is pleased to announce that it intends to complete a non-brokered private placement by the issuance of up to 3,333,333 units (the "Units") at a price of $0.30 per Unit for gross proceeds of up to $1,000,000. Each Unit will consist of one common share of stock and one full share purchase warrant. Each full warrant will be exercisable for one additional share of the Company's common stock for five years at a conversion price equal to $0.45 per share. The placement is subject to regulatory approval and shares will be subject to a mandatory 4 month hold period as required by the TSX Venture Exchange.
The private placement is issued due to significant interest expressed in the previously announced private placement with IFC and is on the same terms as the IFC financing. Proceeds will primarily be used to expand upon the highly successful Phase I drilling program at the Company's high grade El Dovio gold - polymetallic project and to advance the high grade Mercedes gold - silver project to a "drill ready" status and for general working capital.
About Colombian Mines Corporation: Colombian Mines is an aggressive junior exploration and development stage company with a distinct "first mover" advantage in Colombia and one of the largest portfolios of 100% direct owned mineral assets among comparable companies in Colombia. Focused on developing shareholder value through exploration and development of key projects, the Company is also one of Colombia's leading "prospect generators" and applies an aggressive business model of organic growth through exploration while leveraging shareholder value through strategic alliances and joint ventures. Colombia is widely recognized as a highly prospective, under-explored country with exceptional mineral potential. Further information can be found on our website at
www.colombianmines.com.
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