Camino Announces Proposed Private Placemen June 11, 2019
Edmonton, June 11, 2019 – Camino Minerals Corp. (TSXV: COR) (OTCQB: CAMZF) (WKN: A116E1) (“Camino” or the “Company”) is pleased to announce that it has arranged a non-brokered private placement (the “Offering”) of up to 10,000,000 units (the “Units”) at C$0.15 per Unit to raise up to C$1,500,000 in gross proceeds. Each Unit will consist of one (1) common share and one (1) non-transferable share purchase warrant (the “Warrants”) of the Company. Each Warrant will be exercisable to acquire one (1) additional common share for two years from the closing date of the Offering at a price of C$0.25 per share. In the event that the common shares of the Company trade at a closing price greater than $0.35 per share for a period of 10 consecutive days, then the Company may deliver a notice to the Warrant holders that they must exercise their Warrants within the next 30 days, or the Warrants will expire. The Company may pay finder’s fees raised in connection with the financing to arm’s length finders in accordance with the policies of the TSX Venture Exchange and as permitted by law.
Completion of the Offering is subject to the delivery of definitive subscription agreements and TSX Venture Exchange’s acceptance. All the securities issued pursuant to this Offering will have a hold period expiring four months and a day after the closing date. The net proceeds of the Offering will be used primarily for the Company’s Chapitos Copper-Gold project, Peru, and for general working capital purposes.