Canadian International Minerals Inc. Arranges Financing
December 31, 2015 – Vancouver, British Columbia – Canadian International Minerals Inc. (“CIN” or the “Company”) (TSX-V: CIN) announces that it has arranged a private placement of up to 2,000,000 units at a price of $0.035 per unit for total gross proceeds of up to $70,000. Each unit consists of one common share and one transferable warrant, each warrant exercisable into one additional common share for a period of two years from the date of issue, at a price of $0.05 per share in the first year, and $0.07 per share in the second year.
Proceeds of the private placement will be used as follows:
| Description | Amount |
|---|---|
| Internet/telephone | $1,500.00 |
| Legal/paralegal | $5,000.00 |
| Accounting | $5,000.00 |
| Michael Schuss, President & CEO | $5,000.00 |
| Lac Manitou PGM project | $15,000.00 |
| Leduc lithium project | $20,000.00 |
| Unallocated working capital | $18,500.00 |
| Total | $70,000.00 |
Unallocated working capital will be used to maintain operations and cover general and administrative expenses for the next six months.
Finders’ fees may be payable in whole or in part on the placement pursuant to the policies of the TSX Venture Exchange.
The private placement is subject to the acceptance of the TSX Venture Exchange.
For further information, please contact:
Canadian International Minerals Inc.
Michael E. Schuss President and CEO Phone: 604-241-2254 E-mail: [email protected]
Website: www.cin-v.com
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.