Chibougamau Independent Mines Completes $1.06 Million “Flow- Through” Private Placement
Not for distribution to U.S. news wire services or dissemination in the United States
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Chibougamau Independent Mines Completes $1.06 Million “Flow-
Through” Private Placement
ROUYN-NORANDA, QUÉBEC - Chibougamau Independent Mines Inc. (CBG -TSX-V in Canada, CLL1 -Frankfurt,
Stuttgart and Lang & Schwarz Stock Exchanges in Germany, CMAUF-OTC in the US) is pleased to announce that it
has completed a non -brokered private plac ement by issuing 4,736,600 “flow -through” common shares to
“accredited investors” at a price of $0. 225 per share for proceeds to CIM of $1,065,735. CIM will use the
proceeds from the sale of the “flow -through” shares for exploration on its properties in t he Chibougamau area of
Québec starting with drilling on the new C -3 copper /gold zone which previous CIM drilling has followed from
surface to a depth of 450 metres . Globex Mining Enterpr ises Inc. ( GMX-TSX, G 1MN-Frankfurt, GLBXF-OTCQX
International) holds a three percent ( 3%) gross metal royalty on most of C IM properties as a result of the 2012
spin out to Globex shareholders of the properties into the newly formed CIM company.
As a result of the closing of the private placement, there are 46,695,042 common shares of CIM issued and
outstanding. Under applicable securities legislation and the policies of the TSX Venture Exchange, the securities
issued at the closing of the private placement are subject to a four-month hold period, expiring on September 30,
2019.
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
Forward Looking Statements
Except for historical information this News Release may contain certain “forward looking statements”. These statements may involve a number of known
and unknown risks and uncertainties and other factors that may cause the actual results, level of activity and performance to be materially different from
the Company’s expectations and projections. A more detailed discussion of the risks is available under “disclaimer” on the Company’s website.
Press Release
May 29, 2019
46,695,042 shares issued and outstanding