Canadian International Minerals Inc. Amends Private Placement
May 5, 2017 For Immediate Release News Release TSX-V: CIN
Canadian International Minerals Inc. Amends Private Placement
May 5, 2017 – Vancouver, British Columbia – Canadian International Minerals Inc. (the “Company”) (TSX-V: CIN; FRANKFURT: 25C1) announces that it has repriced and altered some terms to its private placement announced April 20, 2017. New terms are as follows.
- 2,000,000 flow-through units at a price of $0.05 per unit, for a total of $100,000. Each flow-through unit consists of one flow-through common share for the purposes of the Income Tax Act (Canada), and one transferable non flow-through common share purchase warrant, exercisable at a price of $0.05 per share for a period of 3 years from the date of issue.
- 3,000,000 non flow-through units at a price of $0.02 per unit, for a total of $60,000. Each non flow-through unit will consist of one common share and one transferable share purchase warrant, exercisable at a price of $0.05 per share for a period of 36 months from the date of issue.
The proceeds of the non flow-through private placement will be used as follows:
| Description | Amount |
|---|---|
| Michael Schuss, President & CEO | $5,000.00 |
| Office and Administration | $5,000.00 |
| TSX Venture Exchange - Sustaining Fees | $3,000.00 |
| Legal / Paralegal | $5,000.00 |
| Accounts Payable | $15,000.00 |
| Unallocated working capital | $27,000.00 |
| Total | $60,000.00 |
The proceeds of the flow-through private placement will be used to advance the Company’s exploration projects.
All securities issued under the placements will be subject to four-month hold periods. Finders’ fees may be payable in whole or in part on the placements, pursuant to the policies of the TSX Venture Exchange.
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.