The Prospector News

XIMEN MINING CLOSES A $2.5 MILLION FINANCING STRATEGIC INVESTMENT BY NEW GOLD

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

XIMEN MINING CLOSES A $2.5 MILLION FINANCING STRATEGIC INVESTMENT BY NEW GOLD

 

 

 

 

 

Ximen Mining Corp. (TSX-V: XIM) (FRA: 1XMA) (OTCQB: XXMMF) is pleased to announce that New Gold Inc. (TSX:NGD) (NYSE American: NGD) has acquired a 9.9% interest in Ximen.

The non-brokered private placement of 8,893,635 charity flow-through shares are priced at $0.285 per share with total gross proceeds of $2,534,686. In a second-step transaction, and part and parcel of the completion of the Offering, New Gold Inc. acquired the 8,893,635 shares at a 30% discount to the subscription price.

“Building strategic relationships with active partners in our community and jurisdiction is essential to Ximen’s long-term goals. Ximen is looking forward to enhancing its relationship with New Gold. Their initial decision to invest in Ximen projects and development plans is an excellent starting point,” states Christopher R. Anderson, Ximen’s President and CEO.

Each Flow-Through share consists of one common share that qualifies as a “flow-through share” as defined in subsection 66(15) of the Income Tax Act.

The Company will use the net proceeds from the Offering for exploration expenses on the Company’s British Columbia mineral properties.

The Shares are being issued as part of a charity flow-through arrangement. The Company will pay no commission or finders’ fee in connection with this Offering. The Offering is between arm’s length parties, and all securities issued pursuant to the Offering are subject to the applicable statutory hold period of four months and one day from the closing. The Offering is subject to the final approval of the TSX Venture Exchange.

Posted February 8, 2022

Share this news article

MORE or "UNCATEGORIZED"


URANIUM ENERGY CORP ANNOUNCES THE CLOSING OF $203 MILLION PUBLIC OFFERING

Proceeds to be Used to Accelerate the Development of theĀ United ... READ MORE

October 6, 2025

Barrick Announces Sale of Interest in Tongon for Up To $305 Million

Barrick Mining Corporation (NYSE:B) (TSX:ABX) announced that it h... READ MORE

October 6, 2025

Aquitaine Metals Drills Broad High-Grade Gold Mineralization: 16.45 g/t gold over 20.00 metres at Limousin Project

Aquitaine Metals Corp. is pleased to announce the first drill res... READ MORE

October 6, 2025

B2Gold Achieves Commercial Production at the Goose Mine

B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G) is pleased to announce th... READ MORE

October 6, 2025

Osisko Development Provides Infill Drilling Update on Its 13,000-Meter Lowhee Program at Cariboo Gold Project; Intercepts Include 45.24 G/T Gold Over 3.0 Meters, Including 233.92 G/T Gold Over 0.5 Meters

HIGHLIGHTS 2,279 m of infill drilling completed on 10-m dr... READ MORE

October 6, 2025

Copyright 2025 The Prospector News