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| Home : Chibougamau Independent Mines Inc. Completes $1 Million Non-Brokered Private Placement |
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Jun 28
2016 |
Chibougamau Independent Mines Inc. Completes $1 Million Non-Brokered Private Placement |
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ROUYN-NORANDA, QUÉBEC--(Marketwired - June 27, 2016) - Chibougamau Independent Mines Inc. (TSX VENTURE:CBG) (STUT:CLL) is pleased to announce that it has completed a previously-announced non-brokered private placement in an amount of $1,034,500 by issuing 15,690,000 units at a price of $0.05 per unit for proceeds of $784,500 and 5 million "flow-through" shares at a price of $0.05 per share for proceeds of $250,000. Each of the units consists of one common share in the capital of CIM and one-half of a common share purchase warrant. Each full warrant entitles its holder to purchase one additional common share of CIM at an exercise price of $0.10 for a period of 18 months. In the event that the closing price of the common shares of CIM on the TSX Venture Exchange is at least $0.15 for a period of 20 consecutive trading days at any time starting four months after the closing date of the private placement, CIM, in its discretion, can accelerate the expiry date of the warrants by issuing a press release announcing a new expiry date, which will be 30 days after the date of the press release. The financing was led by First Republic Capital Corporation. |
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| Source:http://www.marketwired.com/mw/release.do?id=2137698&sourceType=3 |
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