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| | January 13, 2010
CANADIAN INTERNATIONAL MINERALS CLOSES ITS FLOW-THROUGH PRIVATE PLACEMENT
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| | The Company is pleased to announce that it has closed its private placement of 5,487,000 flow-through units at $0.10 per unit for total gross proceeds of $548,700, initially announced on November 13, 2009. Each unit consists of one flow-through common share and one-half of one transferable share purchase warrant, each whole warrant exercisable into one non flow-through common share at a price of $0.20 per share until December 31, 2010.
The Company issued units to the following finders for their efforts in finding certain placees:
Wolverton Securities Ltd. received 79,275 units;
Union Securities Ltd. received 72,100 units;
PI Financial Corp. received 28,000 units; and
Michal Hasek received 9,100 units.
Each finder's unit consists of one non flow-through common share and one-half of one share purchase warrant, each whole warrant exercisable into one non flow-through common share at a price of $0.20 per share until December 31, 2010.
All securities issued under the placement are subject to hold periods expiring on May 1, 2010.
Proceeds of the placement will be used for qualified exploration expenditures on the Company's mineral properties.
The private placement for non-flow-through units is ongoing and the Company plans to close same shortly.
The Company also announces that it has granted stock options to its directors, officers and advisory board members under its stock option plan for the purchase of 1,850,000 common shares of the Company for a period of two years at a price of $0.12 per share.
The CNSX has not approved or disapproved the contents of this news release.
Michael E. Schuss
President, CEO, CFO, Director |
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| | You can view the Next News Releases item: Tue Feb 9, 2010, Non Flow-Through Private Placement Closes
You can view the Previous News Releases item: Mon Dec 21, 2009, Canadian International Minerals Amends Terms of Private Placement
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