November 20, 2015 / TheNewswire / Vancouver, British Columbia - Canadian International Minerals Inc. ("CIN" or the "Company") (TSX-V: CIN) is pleased to announce that it has closed its private placement of 3,200,667 units at a price of $0.015 per unit for total gross proceeds of $48,010. Each unit consists of one common share and one transferable share purchase warrant, each warrant exercisable into one additional common share until November 18, 2018, at a price of $0.05 per share.
The proceeds of the private placement will be used as follows:
|
Description |
Amount |
|
43-101 Report on Leduc property |
$17,000.00 |
|
Accounting |
15,000.00 |
|
Legal/paralegal |
5,000.00 |
|
Phone and internet |
1,000.00 |
|
General office expenses |
1,500.00 |
|
Michael Schuss, President and CEO |
5,000.00 |
|
Unallocated working capital |
3,510.00 |
|
$48,010.000 |
All securities issued pursuant to the placement are subject to regulatory hold periods expiring on March 19, 2016.
The Company also announces that at its Annual General Meeting held on September 24, 2015, shareholders elected four directors, Michael Schuss, Casey Forward, Tor Burland and Michael Burns.
Mr. Burns is the President and founding partner of Pioneer Exploration Consultants Ltd. He is also President and CEO of Star Minerals Group Ltd. He earned a Bachelor of Sciences in Earth Science with honours and distinction from the University of Victoria, British Columbia, and is currently on track to complete his MSc. in Economic Geology at Laurentian University, Sudbury, Ontario.
Mr. Burns has been actively involved in the exploration industry since 2007 as a founding partner of the consulting firms Mackevoy Geosciences Ltd., and Pioneer Exploration Consultants Ltd. He has managed multiple successful grassroots exploration programs throughout the Yukon Territory and British Columbia. Mr. Burns' experience in project generation, directing claim staking and project assessment has led to both discovery success and experience in a variety of commodities, including tungsten, REE's, lithium, gold, uranium, base metals, and gemstones. Since 2012, he has been extensively involved in the testing, management and production of multiple placer gold and gemstone projects throughout North America. Apart from being involved with several field exploration programs, he also lead the development and was influential in the success of the first ever commercial un-manned aerial vehicle magnetometer survey system, UAV-MAG(TM), which flew a landmark 600 line km survey on the first ever multicopter geophysics survey. Mr. Burns has also been central to structuring and completing multiple exploration property acquisition deals between both private and public companies.
For further information, please contact:
Canadian International Minerals Inc.
Michael E. Schuss
President and CEO
Phone: 604-241-2254
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Website: www.cin-v.com
Neither the 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.
Forward-looking Information
This news release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements; the uncertainty of future profitability; and the uncertainty of access to additional capital. These risks and uncertainties could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and expressed qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.
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