February 19, 2016 / TheNewswire / Vancouver, British Columbia - Canadian International Minerals Inc. ("Canadian International", the "Company") (TSX-V: CIN) is pleased to announce that it has completed the transaction with Kaminak Gold Corporation ("Kaminak") (TSX-V: KAM) for the purchase of an extensive proprietary database on the Company's recently acquired Lac Manitou property. In consideration for the acquisition, the Company issued a total of 3,500,000 units to Kaminak, each unit consisting of one common share of the Company and one share purchase warrant, with each warrant exercisable into an additional common share at a price of $0.10 per share until February 11, 2019.
As a result of the transaction, Kaminak now holds 7.8% of the Company's current issued and outstanding common shares. Should Kaminak exercise all of its warrants, it would hold approximately 14.5% of the Company's common shares on a fully diluted basis, based on the current issued and outstanding common shares of the Company.
"We welcome Kaminak as shareholders and hope to build on their support in a tough operating environment for junior explorers. We feel the Lac Manitou project hosts some of the best untested Ni-Cu-PGM targets in Canada - targets that likely would have been drill-tested by Kaminak if not for their discoveries at the Coffee project in the Yukon. With the database transaction now completed, we will be undertaking a full review of the project, with the near-term goal of a spring ground-proofing program," stated Michael E. Schuss, President & Chief Executive Officer of Canadian International.
Qualified Person
The technical data in this news release has been reviewed by Thomas Hasek, P. Eng., a Qualified Person under the terms of N.I. 43-101.
About Canadian International Minerals Inc.
Canadian International Minerals Inc. is a junior mining exploration company with diamond properties in Saskatchewan, and copper and rare-earth properties in British Columbia.
For further information, please contact:
Canadian International Minerals Inc.
Michael E. Schuss
President and CEO
Phone: 604-241-2254
Website: www.cin-v.com
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.
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.
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