Camino Minerals Raises $1,516,000 to Fund Drilling at Los Chapitos Project
Suite 500, 666 Burrard Street, Vancouver, BC V6C 3P6
Phone: 604-566-8778 | Fax: 604-558-4784 | Email: [email protected]
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NEWS RELEASE
#07-2018
February 27, 2018 TSX Venture Symbol: COR
OTCQB Symbol: CAMZF
Frankfurt: XC01
CAMINO MINERALS RAISES $1,516,000
TO FUND DRILLING AT LOS CHAPITOS PROJECT
Camino Minerals Corporation ("Camino" or the "Company") (COR: TSX-V) is pleased to
announce that it has completed a non-brokered private placement for gross proceeds of
$1,516,060 which will be used to fund step out drilling at its Los Chapitos pro ject
(“Chapitos”), located in southern Peru, and for general working capital.
The non-brokered private placement consisted of 4,331,600 units at a price of $0.35 per
unit, each unit being comprised of one common share and one non- transferable share
purchase warrant. The common shares, warrants and any shares issued on the exercise
of warrants are subject to a four-month hold period expiring July 1, 2018. Each warrant
will entitle the holder to acquire one additional common share of the Company at a price
of $ 0.45 per common share until August 27 , 2019. The warrants are subject to an
acceleration right in favor of the Company: should the closing price of the common
shares of the Company on the TSX V enture Exchange be $ 0.75 or higher for ten
consecutive trading days, the Company will be entitled to accelerate the expiry of the
warrants to the date that is 30 business days from the date of the issuance of a news
release by the Company announcing the exercise of the acceleration right.
The Company paid $49,980 in cash and issued 142,800 warrants (“Finder`s Warrants”) to
finders in respect of the placement. Each Finder’s Warrant is subject to a hold period
expiring on July 1, 2018 and will be exercisable into one common share of the Company
at a price of $0.45 per share until August 27, 2019. The Finder’s Warrants will be subject
to the same acceleration clause as the private placement warrants.
The 2016 drill program identified a significant new copper discovery at the Adriana Zone
which currently measures over 600 meters long, up to 200 m wide, and over 300 meters
deep. It is open for expansion down dip and along trend to the northwest and southeast.
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The step out drill program is expected to commence by late March , and will focus on
drilling to the northwest and testing between the Adriana Zone and the Katty Zone which
lies 1.5 kilometers to the southeast. A summary presentation can be found on the
company website at www.caminominerals.com.
Kenneth C. McNaughton, M.A.Sc., P.Eng., the President and Chief Executive Officer of
the Company, is a Qualified Person (QP) and is responsible for the Chapitos Project
exploration program.
About Camino Minerals Corporation
Camino is a discovery-oriented mineral exploration company. The Company is focused
on the acquisition and development of high grade copper and precious metal projects.
For more information, please refer to Camino’s website at www.caminominerals.com
For further information and investor inquiries, contact:
Ken McNaughton
President and Chief Executive Officer
Phone (604) 566-8778
http://www.caminominerals.com
Cautionary Note Regarding Forward-Looking Statements and Information
This News Release contains “forward -looking information” and “forward looking statements”
within the meaning of applicable Canadian and United States securities legislation. Statements
contained herein that are not based on historical or current fact, incl uding without limitation
statements containing the words “anticipates,” “believes,” “may,” “continues,” “estimates,”
“expects,” and “will” and words of similar import, constitute “forward -looking statements”
within the meaning of the U.S. Private Securities Litigation Reform Act of 1995.
Forward-looking information may include, but is not limited to, information with respect to our
planned exploration activities, the adequacy of our financial resources, the estimation of mineral
reserves and resources, the results of future exploration and drilling. Wherever possible, words
such as “plans”, “expects”, “projects”, “assumes”, “budget”, “strategy”, “scheduled”,
“estimates”, “forecasts”, “anticipates”, “believes”, “intends”, “targets” and similar expressions
or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will”
be taken, occur or be achieved, or the negative forms of any of these terms and similar
expressions, have been used to identify forward-looking statements and information.
Forward-looking information is subject to a variety of known and unknown risks, uncertainties
and other factors that could cause actual events or results to differ from those expressed or
implied by the forward-looking information, including, without limitation, those risks identified
in the Company’s annual disclosure materials, filed with the securities regulatory authorities in
Canada and available at www.sedar.com. Readers are encouraged to read these materials.
Prospective investors should not place undue reliance on forward-looking information.