Vancouver, B.C., November 11, 2019 – Ximen Mining Corp. (TSX.v: XIM) (FRA: 1XMA) (OTCQB: XXMMF) (the “Company” or “Ximen”) is pleased to announce that it has closed its non-brokered private placement previously announced on October 22, 2019. The placement consisted of 1,282,052 flow through shares at a price of $0.39 per share for gross proceeds of $500,000. Each Flow-Through share consists of one common share that qualifies as a “flow-through share” as defined in subsection 66(15) of the Income Tax Act.
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 $35,000. and issued 89,744 finders warrants to Qwest Investment Fund Management Ltd. The finder warrants are valid for 2 years from closing with an exercise price of $0.39.
All securities issued in connection with the Offering will be subject to a hold period expiring February 25, 2020.
Investor Relations: Sophy Cesar, 604-488-3900, ir@XimenMiningCorp.com
On behalf of the Board of Directors,
Christopher R. Anderson,
President, CEO and Director