Non Flow-Through Private Placement Closes
The Company issued units to the following finders for their efforts in finding certain placees:
Wolverton Securities Ltd. received 16,800 units;
Michal Hasek received 98,490 units; and
Dale Paruk received 7,000 units.
Each finder's unit consists of one common share and one share purchase warrant, each warrant exercisable into one additional common share at a price of $0.20 per share until February 1, 2011.
All securities issued under the placement are subject to hold periods expiring on June 2, 2010.
Proceeds of the placement will be used for general working capital.
The CNSX has not approved or disapproved the contents of this news release.
Michael E. Schuss
President, CEO, CFO, Director
CANADIAN INTERNATIONAL MINERALS CLOSES ITS FLOW-THROUGH PRIVATE PLACEMENT
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
Canadian International Minerals Amends Terms of Private Placement
The non-flow-through private placement will be sold at eight cents per unit for total gross proceeds of up to $360,000. Each unit will consist of one common share and one transferable share purchase warrant, each warrant exercisable into an additional common share for a period of one year at a price of 20 cents per share.
The flow-through units will be sold at 10 cents per flow-through unit for total gross proceeds of up to $675,000. Each flow-through 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 for a period of one year at a price of 20 cents per share.
All other terms of the placements remain unchanged.
Michael E. Schuss
President & CEO
The CNSX has not approved or disapproved the contents of this news release.
Carbo Project in the Heart of Emerging Rare Earth Camp
Canadian International Minerals Inc (CIN) and Commerce Resources Corp. (CCE) are pleased to present current developments on the Carbo Rare Earth Element (REE) project located 80 km northeast of Prince George, B.C. CIN is earning a 75% interest from CCE in the 2778.67 hectare property located in the emerging Wicheeda REE carbonatite camp.
In late October, Spectrum Mining Corporation, a private company, reported significant rare earth element mineralization on claims contiguous to the Carbo Property. Highlights included a 48.64 metre interval which averaged 3.55% REE, a 72 metre interval that averaged 2.92% REE, and a 144 metre interval that averaged 2.20% REE in three widely separated drill holes. Mineral analysis on 2009 drill core has indicated that the primary REEs are contained in coarse grained monazite and a bastnesite-synchistite parasite mineral.
The Carbo claims straddle and directly adjoin Spectrum's property, with the currently reported drilling being approximately 2 km from a Carbo carbonatite showing which hosts analogous mineralization. A property location map of the Carbo and Spectrum properties may be found on the CIN web site.
Exploration work conducted by CCE in 2006 sampled outcrops containing up to 0.46 % total REE plus yttrium (TREO+Y). A reconnaissance program in 2009 by CIN included 17 rock, 43 silt and 57 soil samples taken while geologically mapping and prospecting the Carbo claims. Analyses of soil samples included one exceeding the detection limit of 10,000 ppm (greater than 1%) Cerium (Ce), and values up to 509 ppm Gadolinium (Gd), indicating the presence of HREEs. Rock samples from previously known mineralized carbonatite averaged 0.40% TREO+Y.
A new carbonatite was discovered west of and parallel to the known mineralization. It is within an open ended Cerium soil geochemical anomaly with values up to 217 ppm Ce. Mineralized outcrop at this locality contained 0.36% TREO+Y plus 50.1 ppm Gd, again indicating the presence of HREEs.
CIN and CCE are encouraged by their results on the Carbo claims and in the camp and are planning an expanded exploration program that will include trenching and drilling in 2010.
The Company is also pleased to welcome Professor Roger Mitchell as a member of the advisory board.
Dr. Mitchell, a Fellow of the Royal Society of Canada, Professor Emeritus in the Department of Geology at Lakehead University, is the world's leading authority on the occurrence and genesis of alkaline rocks. His extensive work on the mineralogy, petrology and geochemistry of kimberlites has confirmed the standard genetic model, culminating in his definitive book on this important group of rocks. He has also worked extensively on the character and origin of lamproites, resulting in a new model for their genesis, and publication of the definitive book on these rocks. His work is marked by that rare combination of thoroughness and imagination, and has established him as the leading petrologist in Canada. He is also a world authority on carbonatites.
Further to the news release of November 13, 2009, wherein the Company announced a private placement of 3,000,000 units at $0.12 per unit, the Company advises that each unit will consist of one common share and one whole transferable share purchase warrant, each warrant exercisable into an additional common share for a period of one year at a price of $0.20 per share. All other terms of the placement will remain the same.
The Qualified Person who has reviewed the technical data for this news release is Thomas Hasek P.Eng.
Michael E. Schuss
CEO, CFO, Director
The CNSX has not approved or disapproved the contents of this news release.
Canadian International Minerals Announces $1,035,000 Financing
The Company has also arranged, subject to regulatory approval, a private placement of up to 4,500,000 flow-through units at a price of $0.15 per flow-through unit for total gross proceeds of up to $675,000. Each flow-through 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 for a period of one year at a price of $0.20 per share.
All share purchase warrants issued under the financings will be subject to an acceleration clause (the "Acceleration Clause") whereby if at any time after four months and one day following closing of placements, the closing trading price of the common shares of the Company is $0.40 or more for a period of 10 consecutive trading days, the Company will have the option to require
the earlier exercise of the warrants within 30 days of formal notice from the Company in the form of a press release.
The proceeds of the private placements will be used for exploration programs on the Company's properties and for general working capital.
Finders' fees may be payable in whole or in part on the private placements.
Michael E. Schuss
CEO, CFO, Director
The CNSX has not approved or disapproved the contents of this news release.
N.B. The subsequent news release on November 27, 2009, made the following correction to the above terms: Further to the news release of November 13, 2009, wherein the Company announced a private placement of 3,000,000 units at $0.12 per unit, the Company advises that each unit will consist of one common share and one whole transferable share purchase warrant, each warrant exercisable into an additional common share for a period of one year at a price of $0.20 per share. All other terms of the placement will remain the same.