CMX Gold & Silver Corp

CMX Gold increases private placement to $630,000

CMX Gold & Silver Corp. (CSE:CXC; OTC:CXXMF) ("CMX" or the "Company") announces that there has been strong interest in its current non-brokered private placement offering (the "Offering") of CAD $0.09 units (the "Units"). On July 14, 2022, the Company completed the first tranche of the Offering for 2,860,000 Units for gross proceeds of CAD $257,400. As a result of strong demand, the Company has increased the Offering to 7,000,000 Units (from the original 4,000,000 Units) with maximum proceeds of CAD $630,000. The second and final tranche of the Offering of up to 4,140,000 Units for proceeds of up to $372,600 is expected to close in early September 2022.

Each Unit consists of one CMX common share and one-half of one non-transferable common share purchase warrant. Each whole warrant is exercisable to acquire one common share at a price of CAD $0.18 per common share until 24 months from the date of issuance.

The proceeds of the Offering will be used for work programs on CMX's Clayton Silver Project in Custer County, Idaho, USA, including planning and site preparation for future drilling programs and for general working capital purposes.

The securities issued under the Offering, and any common shares that may be issuable on exercise of any such securities, will be subject to a statutory hold period expiring four months and one day from the date of issuance of such securities.

About CMX

CMX's 100%-owned Clayton Silver Property is located in the mining-friendly State of Idaho, USA. The property comprises approximately 684 acres in Custer County in south-central Idaho, including the former Clayton silver-lead-zinc mine. The Clayton Mine was developed on eight levels to a depth of 1,100 feet below surface and is comprised of approximately 19,690 feet of underground development.

Two major ore bodies were partially mined: the "South Ore Body" and the "North Ore Body". The Clayton property's significant potential is demonstrated in hole 1501-A, drilled in the mid-1960's, which penetrated the mineralized zone at 1,425 feet. At that depth, the hole intercepted 22 feet of 4.07 oz Ag/t, 5.75% lead and 5.37% zinc (note: true width is unknown). The recorded production from the Clayton Mine included 7,031,110 oz silver, 86,771,527 lbs lead, 28,172,211 lbs zinc, 1,664,177 lbs copper, and minor amounts of gold from an estimated 2,145,652 tonnes of ore mined between 1934 and 1985.

The Company has signed an agreement with Sulphide Remediation Inc. ("SRI"), a firm specializing in mineral processing (see May 31, 2022 news release). SRI utilizes precision ore sorting technology to high-grade mine stockpiles of unprocessed rock to enhance the grade of material delivered to a toll mill. The results of testing the ore sorting process on Clayton's stockpile material should position CMX to generate cash flow in 2023. The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

For further information contact:

Robert d'Artois, Investor Relations at (604) 329-0845 bobdartois@cmxgoldandsilver.com or

Jan M. Alston, President & C.E.O. at (403) 457-2697 janalston@cmxgoldandsilver.com.

You can also visit the Company's Website: www.cmxgoldandsilver.com

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. Cautionary Statement Regarding Forward-Looking Information Certain information contained in this news release constitutes "forward-looking information" or "forward-looking statements" (collectively, "forward-looking information"). Without limiting the foregoing, such forward-looking information includes statements regarding the process and completion of the Offering, the use of proceeds of the Offering and any statements regarding the Company's business plans, expectations and objectives. In this news release, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward-looking information. Forward-looking information should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. Forward-looking information is based on information available at the time and/or the Company management's good faith belief with respect to future events and is subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Company's control. For additional information with respect to these and other factors and assumptions underlying the forward-looking information made in this news release, see the Company's most recent Management's Discussion and Analysis and financial statements and other documents filed by the Company with the Canadian securities commissions and the discussion of risk factors set out therein. Such documents are available at www.sedar.com under the Company's profile and on the Company's website, https://cmxgoldandsilver.com/home.

The forward-looking information set forth herein reflects the Company's expectations as at the date of this news release and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Source

Click here to connect with CMX Gold & Silver Corp. (CSE:CXC; OTC:CXXMF) to receive an Investor Presentation

CXC:CC
The Conversation (0)
CMX Announces Assay Results Confirm Ore-Sorting Viable for Clayton Stockpile

CMX Announces Assay Results Confirm Ore-Sorting Viable for Clayton Stockpile

(TheNewswire)

CMX Gold & Silver Corp.

CMX Gold & Silver Corp. ( CSE:CXC ) ( OTC:CXXMF ) (" CMX " or the " Company ") has received assays for concentrate successfully recovered from samples taken in 2022 from the historic stockpile adjacent to its 100%-owned Clayton Silver Mine in Idaho.  Jan Alston, President & CEO of CMX stated: "This is a significant milestone with respect to advancing the Company's Clayton Silver Project.  The silver, lead and zinc assay results are robust and ore-sorting returned a high-grade concentrate.  This provides CMX with a unique opportunity as a junior mining company to exploit the stockpile, which is estimated to contain 1,000,000 tonnes or more of mineralized material. Processing the stockpile is expected to start next year

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
CMX Announces Ore-Sorting Test Completed with Assays Pending

CMX Announces Ore-Sorting Test Completed with Assays Pending

(TheNewswire)

CMX Gold & Silver Corp.

CMX Gold & Silver Corp. ( CSE:CXC ) ( OTC:CXXMF ) (" CMX " or the " Company ") announces the successful completion of the ore-sorting test at the TOMRA facility in Sydney, Australia.  The sorted product has been sent to Bureau Veritas for assaying. Results are expected in late April 2023

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
CMX Expands Clayton Landholdings

CMX Expands Clayton Landholdings

(TheNewswire)

CMX Gold & Silver Corp.

November 3, 2022 TheNewswire - CALGARY, ALBERTA CMX Gold & Silver Corp. ( CSE:CXC ) ; ( OTC:CXXMF ) ("CMX" or the "Company") announces completion of its 2022 claims staking program surrounding its 100%-owned Clayton Silver Property in Idaho, USA.  The Company surveyed and staked 22 lode claims on federal Bureau of Land Management land, adding approximately 450 acres to CMX's landholdings. The staking has added significant prospective acreage to the Company's silverleadzinc project, bringing the total land position to 1,134 acres, a 66% increase in the area covered.  Prior to staking the new claims, CMX's land position was comprised of 29 patented mining claims and 2  patented mill sites aggregating 565 acres, plus 6 lode claims aggregating 119 acres.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
CMX Clayton Stockpile Testing

CMX Clayton Stockpile Testing

(TheNewswire)

CMX Gold & Silver Corp.

October 13, 2022

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
CMX Announces Contract for Processing Clayton Stockpile

CMX Announces Contract for Processing Clayton Stockpile

(TheNewswire)

CMX Gold & Silver Corp.

May 31, 2022 TheNewswire - CALGARY, ALBERTA CMX Gold & Silver Corp. ( CSE:CXC ) ; (CNSX:CXC.CN); ( OTC:CXXMF ) ("CMX" or the "Company") announces that it has signed an agreement with Sulphide Remediation Inc. ("SRI") ( https:www.sulphide-remediation.com ), an affiliate of ABH Engineering Inc. of Surrey, B.C., a firm specializing in mineral processing ( https:www.abhengineeringinc.com ).  SRI utilizes precision ore sorting technology to high-grade mine stockpiles of unprocessed rock to enhance the grade of material delivered to a toll mill.  Dual Energy X-Ray Transmission technologies differentiate between rocks based on small fluctuations in density profiles and are effective at removing sulphides and concentrating valuable metals.  The sorted rock can be treated at existing millssmelters where valuable metals will be extracted and sulphides will be safely handled.​ SRI has some of the world's leading experts in crushing, screening and ore sorting.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
gold bars and nuggets

How to Use Gold Investments as a Hedge (Updated 2023)

It can be tempting for investors to focus on specific assets, but those taking a long-term approach will want to diversify in order to balance out potential portfolio instability.

Gold has a reputation for being a reliable diversifier because it can act as a hedge against various risks. But how does that work, and what's the best way to get exposure to gold as a hedge?

Read on for a look at how this strategy works and why it's worth considering.

Keep reading...Show less
Getchell Gold (CSE:GTCH)

Getchell Gold


Keep reading...Show less
mining equipment

5 Top Weekly TSX Stocks: Arizona Metals Takes the Top Spot

The S&P/TSX Composite Index (INDEXTSI:OSPTX) declined last week, finishing the period at 19,778.04.

Market watchers were focused on Canada's southern neighbor as the US Federal Reserve met once again. The central bank opted to leave rates flat, but officials indicated they see one more hike in 2023 before two cuts next year.

Against that backdrop, some resource juniors listed on the TSX saw their share prices go up last week. Here’s a look at the five biggest gainers and the factors that moved their share prices during the period.

Keep reading...Show less

Beroni Group Limited Enters Into Convertible Loan With Investor

Sydney, Australia (ABN Newswire) - Beroni Group Limited (OTCMKTS:BNIGF) (NSX:BTG) advises that it has entered into an unsecured and interest free convertible loan agreement with an investor for a principal loan amount of US$205,679. The loan is convertible at US$1.00 per share upon listing of the Company's securities on the Nasdaq Stock Exchange or another US national securities exchange prior to the repayment date. The loan is repayable on 18 September 2024 unless converted earlier.



About Beroni Group Limited:

Beroni Group (NSX:BTG) (OTCMKTS:BNIGF) is an international biopharmaceutical enterprise dedicated to the innovation and commercialization of drugs and therapies to combat various global diseases such as cancer and infectious diseases. Its diversified portfolio is comprised of a US FDA approved virus diagnostic kit, an e-commerce platform for the sale of pharmaceutical products and a development pipeline targeting oncology and cell therapies. Beroni has operations in Australia, United States, China and Japan. To learn more about Beroni, please visit www.beronigroup.com.



Source:
Beroni Group Limited

News Provided by ABN Newswire via QuoteMedia

Keep reading...Show less
us federal reserve flag

Top Stories This Week: Gold Stays Steady as Fed Signals Higher for Longer

The US Federal Reserve was in focus this week as it met from Tuesday (September 19) to Wednesday (September 20). The central bank was widely expected to leave interest rates unchanged, and that's exactly what it did.

In its statement, the Fed reaffirms its goals of achieving maximum employment and bringing inflation down to 2 percent. It also emphasizes that it will continue to assess various factors as it determines its next steps.

"The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. In support of these goals, the Committee decided to maintain the target range for the federal funds rate at 5-1/4 to 5-1/2 percent" — US Federal Reserve
Keep reading...Show less
"fed" written in gold font, american flag, gold coins

The Fed Left Rates Unchanged — What Happened to the Gold Price?

The US Federal Reserve left interest rates unchanged at 5.25 to 5.5 percent at its latest meeting.

The central bank was widely expected to stay the course at this month's gathering, but market watchers believe there's still one more 25 basis point hike left in this cycle — an update to the dot plot, which shows where each Fed official thinks the federal funds rate is headed, shows that the median projection is 5.6 percent by the end of 2023.

Looking forward to 2024, two cuts of a quarter point each are anticipated. That's less than the four decreases insiders were forecasting three months ago, which Andrew Patterson, senior economist at Vanguard, believes is a "telling" change.

Keep reading...Show less

Latest Press Releases

Related News

×