Camino Announces Proposed Private Placement
Edmonton, Alberta--(Newsfile Corp. - June 11, 2019) - Camino Minerals Corp. (TSXV: COR) (OTCQB: CAMZF) (WKN: A116E1) ("Camino" or the "Company") is pleased to announce that it has arranged a non-brokered private placement (the "Offering") of up to 10,000,000 units (the "Units") at C$0.15 per Unit to raise up to C$1,500,000 in gross proceeds. Each Unit will consist of one (1) common share and one (1) non-transferable share purchase warrant (the "Warrants") of the Company. Each Warrant will be exercisable to acquire one (1) additional common share for two years from the closing date of the Offering at a price of C$0.25 per share. In the event that the common shares of the Company trade at a closing price greater than $0.35 per share for a period of 10 consecutive days, then the Company may deliver a notice to the Warrant holders that they must exercise their Warrants within the next 30 days, or the Warrants will expire. The Company may pay finder's fees raised in connection with the financing to arm's length finders in accordance with the policies of the TSX Venture Exchange and as permitted by law.
Completion of the Offering is subject to the delivery of definitive subscription agreements and TSX Venture Exchange's acceptance. All the securities issued pursuant to this Offering will have a hold period expiring four months and a day after the closing date. The net proceeds of the Offering will be used primarily for the Company's Chapitos Copper-Gold project, Peru, and for general working capital purposes.
About Camino Minerals Corporation
Camino is a discovery-oriented mineral exploration company. The Company is focused on the acquisition and development of high-grade copper and precious metal projects. For more information, please refer to Camino's website at www.caminominerals.com.
ON BEHALF OF THE BOARD
/S/ "John Williamson"
President and CEO
For Further information, please contact:
Jeremy Yaseniuk, Director
Tel: (604) 773-1467
Neither 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.
This news release may contain certain "forward looking statements". Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/45514