Colombian Mines Corporation (TSXV:CMJ) has signed a subscription agreement with International Finance Corporation whereby IFC will make a non-brokered private placement in the Company for gross proceeds of $1 million dollars.
As quoted in the press release:
The placement will consist of 3,333,333 units (the “Units”) at a price of $0.30 per Unit for gross proceeds of $1 million dollars. Each Unit will consist of one common share of stock and one full share purchase warrant. Each full warrant will entitle the holder to purchase one additional share of the Company’s common stock for five years at an exercise price of $0.45 per share. The shares will be subject to a mandatory four month hold period.