Canadian International Minerals Inc. Announces Private Placement
Vancouver, October 28, 2016 - Canadian International Minerals Inc. (the "Company") (CIN - TSX Venture) announces that it has arranged, subject to TSX Venture Exchange acceptance, a private placement of up to 2,500,000 at $0.025 per unit for total gross proceeds of up to $62,500. Each unit will consist of one common share and one-half of one transferable share purchase warrant, each whole warrant exercisable into one additional common share at a price of $0.05 per share for two years from closing. Finders' fees may be payable in whole or in part on the placement pursuant to the policies of the TSX Venture Exchange.
All securities issued under the placement will be subject to statutory hold periods expiring four months and one day from issue date.
The proceeds of the private placement will be used as follows:
| Pay to Michael Schuss, CEO | $ 5,000.00 |
| Pay to Casey Forward, CFO | $ 5,000.00 |
| Pay to Thomas Hasek, Director | $ 5,000.00 |
| Legal and AGM costs | $ 5,000.00 |
| Office and administration | $ 5,000.00 |
| Accounts payable | $ 7,500.00 |
| General working capital | $30,000.00 |
| Total | $62,500.00 |
ON BEHALF OF THE BOARD
Michael Schuss, President and CEO
For further information, please contact:
Canadian International Minerals Inc.
Michael E. Schuss
President and CEO
Phone: 604-241-2254
Website: www.cin-v.com
Forward-looking Information
This news release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements; the uncertainty of future profitability; and the uncertainty of access to additional capital. These risks and uncertainties could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and expressed qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.
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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