Canamex Intends to Complete Equity Financing for Gross Proceeds up to $2,000,000

Canamex Resources Corp. has arranged a private placement for gross proceeds of up to $2-million, subject to acceptance by the TSX Venture Exchange. These funds will be raised by the Company issuing up to 16,666,667 units (the “Units”), at a price of $0.12 per Unit, each Unit consisting of one common share and one share purchase warrant, each warrant entitling the holder thereof to purchase one additional common share, exercisable for a period of five years from the date of issuance at a price of $0.20 per share.

Canamex Resources Corp. (TSXV:CSQ; OTCQX:CNMXF; FSE:CX6) announces a private placement for gross proceeds of up to $2,000,000 (the “Financing”), subject to acceptance by the TSX Venture Exchange (“TSX-V”). These funds will be raised by the Company issuing up to 16,666,667 units (the “Units”), at a price of $0.12 per Unit, each Unit consisting of one common share and one share purchase warrant, each warrant entitling the holder thereof to purchase one additional common share, exercisable for a period of five years from the date of issuance at a price of $0.20 per share.

The Company may pay finders’ fees in connection with the Financing in accordance with the rules and policies of the TSX-V.Proceeds will be used to acquire the remaining 30% interest of the Patriot Gold Corp. (“Patriot”) interest in the Bruner Gold Project in Nevada for US$1,000,000 (approximately $1.34M in Canadian dollars); and for general working capital. The Company and Patriot jointly announced on March 20, 2017 the terms of this consolidation of the ownership of the Bruner Gold Project. Canamex will receive 100% ownership of the Bruner Gold Project by paying consideration to Patriot of US$1,000,000.
In addition, in accordance with an agreement the Company has with Hecla Canada Ltd. (“Hecla”) (refer to CSQ News Release dated November 19, 2012), Hecla holds a pre-emptive right so long as it holds more than 10% of Canamex’s outstanding shares (on an undiluted basis). In this regard, Hecla has the right (but not the obligation) to participate in equity offerings of Canamex in order to maintain its pro-rata equity interest in Canamex.
ON BEHALF OF THE BOARD
SIGNED: “Mark Billings
Mark Billings, Chairman and CEO
Contact: (514) 296-1641
mbillings@canamex.us

The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements.
This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Click here to connect with Canamex Resources Corp. (TSXV:CSQ; OTCQX:CNMXF; FSE:CX6) to receive an Investor Presentation.

Source: www.accesswire.com

Featured
Donlin Gold LLC owned 5050 by Barrick Gold Corporation and NOVAGOLD RESOURCES INC. is pleased to report progress made during the executive management workshop and site visit in early September between senior representatives from Barrick and NOVAGOLD, as well as the Donlin Gold management team. Additional assay results for 18 completed drill holes, plus partial results for 22 holes from the 2021 drill program are ...

Donlin Gold LLC ("Donlin Gold"), owned 5050 by Barrick Gold Corporation ("Barrick") (TSX: ABX) (NYSE: GOLD) and NOVAGOLD RESOURCES INC. ("NOVAGOLD") (TSX, NYSE American: NG), is pleased to report progress made during the executive management workshop and site visit in early September between senior representatives from Barrick and NOVAGOLD, as well as the Donlin Gold management team. Additional assay results for 18 completed drill holes, plus partial results for 22 holes from the 2021 drill program are reported below.

  • During the September 2021 executive management meetings in Alaska, the combined team reaffirmed its confidence in the deposit and charted a course toward advancing the project up the value chain
  • In addition, senior executives, including Barrick and NOVAGOLD CEOs Mark Bristow and Greg Lang, met with local stakeholders as well as senior Alaska Federal and State government officials who expressed their continued strong support for the project
  • Assay results from approximately 65% or 15,700 meters of drilling continue to support the global resource estimate, recent modelling concepts, and strategic mine planning work
  • With a progression plan in place, subject to results from the upcoming drill program the partners are well positioned to be able to proceed with a feasibility study update in 2022

2021 Drill Program Delivers Consistent Results

read more Show less
Barrick Gold Corporation today confirmed that the per share amount of the third and final $250 million 1 tranche of a return of capital distribution totalling $750 million to be paid on December 15, 2021 will be $0.1405058, based on the number of issued and outstanding shares as of the November 30, 2021 record date. This follows the approval by shareholders at Barrick’s Annual and Special Meeting on May 4, 2021 of ...

All amounts expressed in US dollars

Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) today confirmed that the per share amount of the third and final $250 million 1 tranche of a return of capital distribution totalling $750 million to be paid on December 15, 2021 will be $0.1405058, based on the number of issued and outstanding shares as of the November 30, 2021 record date.

read more Show less
B2Gold Corp.  is pleased to announce that it has completed the sale of its 81% interest in the Kiaka gold project located in Burkina Faso to West African Resources Limited . Pursuant to the terms of the Kiaka Transaction, on closing B2Gold received a cash payment of US$22.5 million 22,190,508 ordinary shares of WAF and a 2.7% net smelter return royalty interest on the first 2,500,000 ounces of gold produced at the ...

B2Gold Corp. (TSX: BTO) (NYSE AMERICAN: BTG) (NSX: B2G) (" B2Gold ") is pleased to announce that it has completed the sale of its 81% interest in the Kiaka gold project located in Burkina Faso (the " Kiaka Project ") to West African Resources Limited (ASX:WAF) (" WAF ")(the " Kiaka Transaction "). Pursuant to the terms of the Kiaka Transaction, on closing B2Gold received a cash payment of US$22.5 million (in addition to the US$450,000 already received), 22,190,508 ordinary shares of WAF (" WAF Shares "), and a 2.7% net smelter return (" NSR ") royalty interest on the first 2,500,000 ounces of gold produced at the Kiaka Project and thereafter a 0.45% NSR royalty interest on the next 1,500,000 ounces of gold produced. B2Gold will also receive an additional payment of US$45 million (the " Additional Payment ") payable on the earlier of (i) commencement of construction at the Kiaka Project (provided such date will no earlier than April 25, 2022 ), (ii) completion of a positive feasibility study at the Kiaka Project, and (iii) October 25, 2022 . The Additional Payment will be paid in cash or WAF Shares, at B2Gold's option but subject to any required WAF shareholder approval to issue the WAF Shares.

Concurrently with the closing of the Kiaka Project, B2Gold also completed the sale of its 90% interest in the Toega gold project located in Burkina Faso (the " Toega Project ") to WAF (the " Toega Transaction "). Pursuant to the terms of the Toega Transaction, on closing B2Gold  received a cash payment of $9,000,000 (in addition to the US$9,000,000 already received), and a 2.7% NSR royalty interest on the first 1,500,000 ounces of gold produced at the Toega Project until such time as the royalty payments total US$22,500,000 and thereafter a 0.45% NSR royalty interest.

read more Show less

MARKETS

Markets
TSX20880.27+220.28
TSXV950.46+11.02
DOW34711.37+227.65
S&P 5004613.67+46.67
NASD15718.38+180.69
ASX7256.00+16.20

COMMODITIES

Commodities
Gold1787.00+13.62
Silver22.72-0.09
Copper4.280.00
Palladium1749.66+4.17
Platinum950.00+11.50
Oil67.95+1.77
Heating Oil2.12+0.06
Natural Gas4.38-0.19