Canadian International Minerals Inc. Closes Private Placement
April 20, 2016 – Vancouver, British Columbia – Canadian International Minerals Inc. (“CIN”, the “Company”) (TSXV: CIN), further to its news release of March 14, 2016, has closed its private placement of 1.6 million units at a price of 3.5 cents per unit for total gross proceeds of up to $56,000. Each unit consists of one common share and one transferable share purchase warrant, each warrant exercisable into one additional common share at a price of five cents per share until April 20, 2017, and at a price of seven cents per share until April 20, 2018.
The proceeds of the private placement will be used as shown in the attached table.
| Description | Amount |
|---|---|
| Leduc lithium project (including site visit) | $18,500.00 |
| Technical maps | $2,500.00 |
| Michael Schuss, President & CEO | $5,000.00 |
| Casey Forward, CFO | $5,000.00 |
| TSX Venture Exchange - Sustaining Fees | $5,500.00 |
| Legal / Paralegal | $5,000.00 |
| Office and Administration | $4,000.00 |
| Unallocated working capital | $10,500.00 |
| Total | $56,000.00 |
The company paid a total of $1,137.50 in finders’ fees with respect to the placement.
All securities issued under the placement are subject to regulatory hold periods expiring August 21, 2016.
For further information, please contact:
Canadian International Minerals Inc.
Michael E. Schuss President and CEO Phone: 604-241-2254
www.cin-v.com Website:
Forward-looking Information
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.