Clarmin Explorations Inc. (TSX-V: CX) has completed its initial public offering (IPO) of 3,500,000 common shares at a price of $0.10 per share for gross proceeds of $350,000.
Haywood Securities Inc. acted as agent for the IPO.
Clarmin’s common shares were listed on the TSX Venture Exchange effective January 8, 2018 and halted pending completion of the IPO. Clarmin common shares will resume trading on on January 10, 2018 under the symbol “CX”.
Clarmin is engaged in the acquisition and exploration of its mineral property located in British Columbia. Clarmin currently has an option to acquire a one hundred percent (100%) undivided interest in the Arlington Property, which is situated approximately 67 kilometres south of Kelowna, British Columbia.
photo credit: Clarmin Explorations
News Release
Clarmin Explorations Inc. Completes Initial Public Offering Share
VANCOUVER, British Columbia, Jan. 10, 2018 (GLOBE NEWSWIRE) — Clarmin Explorations Inc. (“Clarmin”) (TSXV:CX) is pleased to announce that, on January 8, 2018, it successfully completed its initial public offering (the “IPO”) of 3,500,000 common shares (the “Shares”) of Clarmin at a price of $0.10 per Share for total gross proceeds of $350,000 (the “Proceeds”).
Pursuant to the agency agreement dated December 11, 2017, Haywood Securities Inc. acted as agent (the “Agent”) for the IPO. Clarmin paid to the Agent a cash commission equal to 8% of the Proceeds and granted the Agent non-transferable options entitling the Agent to purchase a total of 280,000 Shares at a price of $0.10 per Share until January 8, 2020. In connection with the IPO, the Agent also received a corporate finance fee.
Clarmin’s common shares were listed on the TSX Venture Exchange (“TSXV”) effective January 8, 2018 and halted pending completion of the IPO. Clarmin anticipates that its common shares will resume trading on the TSXV on January 10, 2018 under the symbol “CX”.
About Clarmin
Clarmin is engaged in the acquisition and exploration of its mineral property located in British Columbia, Canada. Clarmin currently has an option to acquire a one hundred percent (100%) undivided interest in the Arlington Property, which is situated approximately 67 kilometres south of Kelowna, British Columbia.
The Proceeds will be used by Clarmin to fund its exploration program on the Arlington Property and for general working capital purposes.
On behalf of the Board of Directors
Mark Lawson
Director
For more information please contact:
Clarmin Explorations Inc.
Mark Lawson
T: +1 647 302 0393
Email: mark@lawson.net
NEITHER 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.