Ximen Mining Corp Debenture Holders Convert 100%
Vancouver, British Columbia (FSCwire) - Ximen Mining Corp. (the “Company”) is pleased to announce that all convertible debenture holders from the Company’s offering in December of 2015 (news release December 21, 2015) and in January of 2016 (news release January 15, 2016), totaling one million dollars, have elected to convert their debentures into shares of the Company at the rate of $0.05 per Unit. Each unit comprises of one common share at a price of $0.05 and a one share purchase warrant at $0.05 for a term of two years. The conversion will be completed in early January and all shares issued will have the applicable four month hold period attached.
Further The Company also announces it has arranged a non-brokered private placement of two million units at a price of $0.075 per unit for gross proceeds of $150,000. The units of the financing will comprise one common share and a full share purchase warrant, which may be exercised for a period of five years at a price of $0.10 per share. Directors, officers or other insiders of the Company may participate in the foregoing offerings, and such parties may sell securities of the Company owned or controlled by them personally through the facilities of the TSX Venture Exchange to finance participation in such offerings.
The offering is subject to approval by the TSX-V.
On behalf of the Board of Directors,
“Christopher R. Anderson”
Christopher R. Anderson,
President, CEO and
Director
Ximen Mining Corp. 604 488-3900
About Ximen Mining Corp.
Ximen Mining Corp. owns 100 percent interest in all three of its precious metal projects. Ximen`s two Gold projects, The Gold Drop Project and Brett Gold Project located in southern British Columbia. Ximen also owns the Treasure Mountain Silver Project adjacent to the past producing Huldra Silver Mine. 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 1XM and WKN with the number as A1W2EG.
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. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
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.
888 Dunsmuir Street - Suite 888, Vancouver, B.C., V6C 3K4 Tel: 604-488-3900
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/Ximen12282016_0.pdf
Source: Ximen Mining Corp. (TSX Venture:XIM)
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