Callinex to Issue Shares for Drilling Services
Vancouver, British Columbia (FSCwire) - Callinex Mines Inc. (the “Company” or “Callinex”) (TSX-V: CNX; OTCQX: CLLXF) announces that in accordance with the terms of its drilling contract with CYR Drilling International Ltd. (the “Driller”) it will issue a total of 530,041 common shares of Callinex at a deemed price of $0.308 per share (the “Shares”). The services provided by the Driller were in connection with Callinex’s recently completed drilling program at its Pine Bay project, located in Flin Flon mining district, Manitoba (see news release dated April 24, 2015).
The issuance of the Shares is subject to the acceptance of the TSX Venture Exchange.
About Callinex Mines Inc.
Callinex Mines Inc., a Canadian mineral exploration company, is focused on discovering the next VMS mine within Manitoba’s prolific Flin Flon mining district. The Company’s flagship projects are the Flin Flon and Pine Bay projects which host significant historic VMS deposits and are within close proximity to a processing facility. The Flin Flon district has yielded more than 145 million tonnes of production from 32 mines.
For additional information, please contact:
Callinex Mines Inc.
Max Porterfield, President and Chief Executive Officer
Phone: (604) 605-0885
E-mail: info@callinex.ca
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.
Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to future expenditures. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the ability to complete contemplated work programs and the timing and amount of expenditures. Callinex does not assume the obligation to update any forward-looking statement.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/callinex05062015.pdf
Source: Callinex Mines Inc. (TSX Venture:CNX) http://www.callinex.ca/
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