Canamex Resources Corp. (TSXV:CSQ,OTCQX:CNMXF,FWB:CX6) has closed $2.1 million equity financing by Gold Resource Corporation (NYSEMKT:GORO), whereby GRC acquired 22,222,222 common shares of the Company and insiders acquired an additional 1,777,778 common shares, at a price of nine cents per share which was then a 12.5% premium to the closing price on the day agreement was reached, and a premium of 13.75% to the volume weighted average price over the prior 20 trading days.
As quoted in the press release:
The aggregate purchase price for the 24 million shares (the “Shares”) was $2,160,000. No warrants were issued and no fees were paid in connection with this financing. Proceeds will be used for exploration and development of the Company’s Bruner Gold Project located in Nye County, Nevada and for general working capital. The Shares are subject to a hold period under applicable Canadian securities laws expiring on June 28, 2014, and will be subject to such further restrictions on resale as may apply under applicable foreign securities laws.
Canamex CEO, Robert Kramer, said
We are delighted to welcome GRC as a strategic investor. GRC management has a wealth of experience in the gold mining sector, and we believe they fully understand and support our vision for our flagship Bruner Gold Project.