VANCOUVER, BC / ACCESSWIRE / January 3, 2024 / Ximen Mining Corp. (TSX.v:XIM) (FRA:1XMA) (OTCQB:XXMMF) (the “Company” or “Ximen) is pleased to announce that it has closed the non-brokered private placement originally announced on December 15, 2023 by issuing 2,500,000 flow through units at a price of $0.20 for gross proceeds of $500,000. Each Flow-Through unit consists of one common share that qualifies as a “flow-through share” as defined in subsection 66(15) of the Income Tax Act and one-half common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional non-flow through common share at the price of $0.25 for 36 months after closing.
The net proceeds from the Offering will be used by the Company for exploration expenses on the Company’s British Columbia mineral properties.
The Company paid a cash commission of $16,000 and issued 80,000 finders warrants to Qwest Investment Fund Management Ltd….
