Ximen Mining announces NSR extension, private placement

Ximen Mining Corp. (TSX-V: XIM) , a precious metal exploration focused on its three gold and silver projects in BC, has reached an agreement to extend the purchase terms of the net smelter return (NSR) royalty on certain mineral claims comprising the Brett Gold property. The agreement announced by way of News Release on January 19, 2013 of which the balance of $1,350,000 was due on February 20th, 2017 has now been extended to February 20th, 2020.

Ximen Mining also announced the arranging of a non-brokered private placement of up to ten million units at a price of $0.10 per unit for gross proceeds of up to $1,000,000. The units of the financing will comprise one common share and a full share purchase warrant, which may be exercised for a period of five years at a price of $0.12 per share., subject to accelerated expiry.

Directors, officers, or other insiders of the company may participate in the foregoing offerings (through Gypsy swaps), and such parties may sell securities of the company owned or controlled by them personally through the facilities of the TSX Venture Exchange to finance participation in such offerings.

Ximen Mining owns 100% in three precious metal projects: The Gold Drop Project and Brett Gold Project are located in southern British Columbia, and the Treasure Mountain Silver project adjacent to the past producing Huldra Silver Mine.

photo credit: Ximen Mining

Ted Liu

Ted Liu, M.Sc. (Mining, Queen's), MBA (Finance, Toronto), is the Editor of Private Capital Journal, CanadaMetals.ca, TechWire.ca, and the former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, having most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA).

Ted is the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, Canada's most sophisticated and advanced all private capital and public market financing database.