Chibougamau Independent Mines Announces Board Appointment and $1 Million “Flow-Through” Financing
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Chibougamau Independent Mines Announces Board Appointment
and $1 Million “Flow-Through” Financing
ROUYN-NORANDA, QUÉBEC - Chibougamau Independent Mines Inc. (C BG-TSX-V in Canada, CLL1 -Frankfurt,
Stuttgart and Lang & Schwarz Stock Exchanges in Germany, CMAUF -OTC in the US) is pleased to announce that
Mr. David Lotan has been appointed to the Board of Directors of the Corporation.
David Lotan is the President of L otan Holdings Inc., an investment company focused on natural resource
opportunities. On April 24, 2019, Lotan Holdings Inc. announced that it owns more than 10% of Chibougamau’s
outstanding shares, and that it acquired such shares for investment purposes. Mr. Lotan was previously the
founder and CEO of the structured finance operations of Polar Capital, a Canadian merchant bank and alternative
asset manager, portfolio manager for the Ontario Teachers’ Pension Plan, and a risk management consultant with
PricewaterhouseCoopers focused on commodities and rates. Mr. Lotan is a Chartered Accountant and CPA. He is
also a director of Aurion Resources Ltd., an exploration company listed on the TSX Venture Exchange with projects
in Finland.
Chibougamau is also pleased to announce that it will e ffect a non-brokered private placement of a maximum of
4,444,444 “flow -through” common shares at a price of $0.225 per share, for maximum gross proceeds to
Chibougamau of $1,000,000. Chibougamau will use the proceeds from t he private placement for exploration on
certain of its properties in Quebec . Closing of the private placement is expected to take place on or before
May 24, 2019.
The private placement and the appointment of David Lotan to the Board of Directors are subje ct to approval by
the TSX Venture Exchange.
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 the release.
We Seek Safe Harbour.
CUSIP Number 167101 203
LEI 529900GYUP9EBEF7U709
For further information, contact:
Jack Stoch, P.Geo., Acc.Dir.
President & CEO
Chibougamau Independent Mines Inc.
86, 14th Street
Rouyn-Noranda, Quebec Canada J9X 2J1
Tel.: 819.797.5242
Fax: 819.797.1470
www.chibougamaumines.com
Press Release
May 9, 2019
41,958,442 shares issued and outstanding