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Colombian Mines Corporation (TSXV:CMJ,FWB:X6C) announced that International Finance Corporation (IFC) proposed to make an initial investment of up to $1.5 million dollars in the Company, through a non-brokered private placement that will consist of up to 5,000,000 units at a price of $0.30 per unit.
As quoted in the press release:
The placement will consist of up to 5,000,000 units (the “Units”) at a price of $0.30 per Unit for gross proceeds of up to $1.5 million dollars. Each Unit will consist of one common share of stock and one full share purchase warrant. Each full warrant will be exercisable for one additional share of the Company’s common stock for five years at a conversion price equal to $0.45 per share. Shares will be subject to a mandatory 4 month hold period.
IFC will be seeking board approval for an investment of up to C$5.5 million dollars to facilitate participation in subsequent rights issues and warrant exercises. Widely recognized as a long term investor with a focus on helping to bring properties to production, IFC brings strong support at all project levels, especially health, safety, environmental and social. The Company’s management looks forward to beginning a long-term partnership with IFC that will draw heavily on their global environmental and social expertise.
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