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Ximen Mining Corp (2)
Symbol XIM
Shares Issued 89,834,699
Close 2022-01-24 C$ 0.20
Recent Sedar Documents

Ximen Mining arranges $8-million equity financing

2022-01-25 15:23 ET - News Release

Mr. Christopher Anderson reports

XIMEN MINING CORP SECURES $8 MILLION EQUITY FACILITY

Ximen Mining Corp. has entered into an extension to its investment agreement with Alumina Partners (Ontario) Ltd., an affiliate of New York-based private equity firm Alumina Partners LLC, providing a drawdown equity financing facility of up to $8-million over the next 24 months.

For clarity purposes, this is not a debt facility. Funds are advanced by way of a private placement with a common share at a regular discount and a warrant at a 25-per-cent premium to market. This is initiated at the company's request and has a maximum limit of up to $500,000 per request.

The company will use the funds for general working capital and unique opportunities as they may arise in the context of the company's day-to-day business. In working with Alumina partners over the past two years, the company is extremely pleased with the timely execution of the private placements, and appreciative of the support and market knowledge the group possesses.

About Ximen Mining Corp.

Ximen Mining is focused on acquiring high-grade gold assets in Southern British Columbia, with easy access and solid infrastructure. Ximen aims to build a gold mining company with the blue-sky potential of a land package with multimillion ounces of gold. Ximen strives to always to take a 100-per-cent interest in all its projects and assets. The company has bought out all the possible net smelter return royalties on its key mineral precious metal assets and several other assets in the vicinity of its holdings. Simultaneously, Ximen is advancing the Kenville gold mine forward and on the path toward production. The focus remains on meeting all the established targets while at the same time maintaining aversion toward debt and dilution. All while moving forward with responsible development and sustainable mining and exploration practices building ethical and sustainable value.

We seek Safe Harbor.

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