(via Thenewswire.ca)
Vancouver, British Columbia / TheNewswire / September 4, 2015 - Canadian International Minerals Inc. ("CIN", the "Company") (TSXV: CIN) announces that it has arranged a private placement of up to 2,000,000 flow-through units (the "FT Units") at a price of $0.015 per FT Unit, each FT Unit consisting of one flow-through common share and one-half of one transferable share purchase warrant, each whole warrant exercisable into one non flow-through common share for a period of 18 months from the date of issue at a price of $0.05 per share.
The Company has also arranged a private placement of up to 3,000,000 non flow-through units (the "NFT Units") at a price of $0.015 per NFT Unit, each NFT Unit consisting of one non flow-through common share and one transferable warrant, each warrant exercisable into one non flow-through common share for a period of three years from the date of issue at a price of $0.05 per share.
Proceeds of the flow-through private placement will be used as follows:
|
Description
|
Amount
|
|
Exploration work on the Company's Saskatchewan diamond projects
|
$30,000.00
|
|
Total
|
$30,000.00
|
Proceeds of the non flow-through private placement will be used as follows:
|
Description
|
Amount
|
|
Accounting
|
$5,000.00
|
|
Legal/paralegal
|
$5,000.00
|
|
Phone and internet
|
$1,000.00
|
|
General office expenses
|
$1,500.00
|
|
Michael Schuss, President & CEO
|
$5,000.00
|
|
Unallocated working capital
|
$27,500.00
|
|
Total
|
$45,000.00
|
Unallocated working capital will be used to maintain operations and cover general and administrative expenses for the next six months.
The private placements are subject to the acceptance of the TSX Venture Exchange.
For further information, please contact:
Canadian International Minerals Inc.
Michael E. Schuss
President and CEO
Phone: 604-241-2254
E-mail: m.e.schuss@gmail.com
Website: www.cin-v.com
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.
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