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Ximen Mining has announced a non-brokered private placement

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The company is looking to raise gross proceeds of up to $500,000 from the placement of up to 1,282,052 flow through shares priced at $0.39 per share.

Additional Information:

Company: Ximen Mining
Website: http:// www.XimenMiningCorp.com
Stock Symbol: TSXV: XIM
Date Published: Oct 23, 2019
Transcript: Available

Video Transcript:

I’m Cassandra Bolinski for Investmentpitch Media

Ximen Mining has announced a non-brokered private placement.

The company is looking to raise gross proceeds of up to $500,000 from the placement of up to 1,282,052 flow through shares priced at $0.39 per share.

The net proceeds from the offering will be used by the company for exploration expenses on the company’s British Columbia mineral properties.

The shares are currently trading at $0.37.

Earlier this year the company acquired the Kenville Gold Mine, located near Nelson, British Columbia, which was the first recorded underground mine in British Columbia.

Work at the Kenville Gold mine site is steadily progressing toward starting the new decline, where it is estimated that 4500 meters of underground drilling will be required to appropriately outline material for a bulk sample of 10,000 tonnes.

Ximen owns 100 percent interest in several other precious metal projects located in southern British Columbia.

In addition to the gold projects, the Gold Drop Project, the Brett Epithermal Gold Project, and the recently acquired Amelia Gold Mine, Ximen also owns the Treasure Mountain Silver Project adjacent to the past-producing Huldra Silver Mine.

Currently both the Gold Drop Project and the Treasure Mountain Silver Project are under option agreements, with the option partners making annual staged cash and stocks payments as well as funding the development of these projects.

For more information, please visit the company’s website, www.XimenMiningCorp.com, contact
Sophy Cesar, Investor Relations, at 604-488-3900 or by email at ir@XimenMiningCorp.com.

I’m Cassandra Bolinski for Investmentpitch Media