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Canamex Resources (TSXV:CSQ,OTCQX:CNMXF,FWB:CX6) announced it has closed a private placement, raising $1,524,229. Hecla Canada opted to increase its position in the company by participating in the financing. Proceeds from the private placement will go towards funding the exploration and development of the Bruner gold project.
According to the press release:
In accordance with the provisions of the Subscription Agreements received, on October 3, 2014 the Company issued a total of 7,258,234 Units at $0.21 per Unit, each Unit consisting of one common share and one-half (1/2) share purchase warrant, each whole warrant entitling the holder to purchase one (1) additional common share at $0.30 per share on or before October 2, 2016.
All of these shares, including any shares issued on exercise of the warrants, will be subject to a hold period under applicable Canadian securities laws expiring on February 4, 2015, and will be subject to such further restrictions on resale as may apply under applicable foreign securities laws.
Greg Hahn, President of Canamex, said:
We are delighted that Hecla continues to support the Company, as they add a wealth of experience in the gold exploration and mining sector, and we believe they share our vision for our flagship Bruner Gold Project.
Click here to read the Canamex Resources Corp. (TSXV:CSQ,OTCQX:CNMXF,FWB:CX6) press release
Click here to see the Canamex Resources Corp. (TSXV:CSQ,OTCQX:CNMXF,FWB:CX6) profile.