Ximen Mining Corp announces Three Year Extension of NSR Purchase Agreement And $1,000,000 Private Placement
Vancouver, British Columbia (FSCwire) - Ximen Mining Corp. is pleased to announce that it has reached an agreement to extend the purchase terms of the net smelter return royalty on certain mineral claims comprising the Brett Gold property. The agreement announced by way of News Release on January 19 2013 of which the balance of $1,350,000 was due on February 20th 2017 has now been extended to February 20th 2020 under the following terms: $50,000 worth of Ximen common stock on a ten day weighted average upon signing of the extension, that being February 18, 2017 thus totalling 628,900 shares. A further $60,000 in cash or stock upon the first anniversary and $75,000 in cash or stock upon the second anniversary and the final purchase price now being reduced to $1,250,000 due to February 20, 2020
Further the Company also announces it has arranged a non-brokered private placement of up to ten million units at a price of $0.10 per unit for gross proceeds of up to $1,000,000. 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 $0.12 per share. The term of the warrants may be accelerated in the event that the issuer's shares trade at or above a price of $0.15 cents per share for a period of 10 consecutive days. In such case of accelerated warrants, the issuer may give notice, in writing or by way of news release, to the subscribers that the warrants will expire 30 days from the date of providing such notice. 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
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 are 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.
Ximen Mining Corp
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/ximen02202017.pdf
Source: Ximen Mining Corp. (TSX Venture:XIM)
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