Mr. Max Porterfield reports
CALLINEX INCREASES PRIVATE PLACEMENT TO $4.2 MILLION
Callinex Mines Inc. has increased its previously announced non-brokered private placement financing (see news release dated April 25, 2016) to $4.2-million.
The offering will now consist of up to seven million flow-through shares at a price of 30 cents per share for gross proceeds of $2.1-million and up to seven million non-flow-through units at a price of 30 cents per unit for gross proceeds of $2.1-million. The units will continue to be on the same terms as set out in the news release dated April 25, 2016.
The proceeds from the offering will be used to facilitate exploration and for general corporate purposes. Callinex may pay a finder's fee equal to 7 per cent of gross proceeds.
We seek Safe Harbor.
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