Ximen Mining Corp. (TSX-V: XIM) (FRA: 1XMA) (OTCQB: XXMMF) announces that it has closed the final tranche of the private placement previously announced on April 1, 2022 for gross proceeds of $90,000. The final tranche of the non-brokered private placement consisted of 600,000 units at a price of $0.15 per unit. Each Unit consists of one common share and one transferable common share purchase warrant. Each whole warrant will entitle the holder to purchase, for a period of 24 months from the date of issue, one additional common share of the Issuer at an exercise price of $0.25 per share.
There were no finders fees payable on this final tranche. All securities issued in connection with the final tranche closing will be subject to a hold period expiring on September 18, 2022.
The net proceeds from the Offering will be used by the Company for exploration expenses on the Company’s British Columbia mineral properties and general working capital. The closing of the final tranche of the private placement financing is subject to final TSX-V approval.
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