Ximen Mining Corporate Update
Advancing precious metal assets in British Columbia
January 30, 2020
TSX.V: XIM
FRA: 1XMA
OTCQB: XXMMF
Ximen Mining Corporate Update
Vancouver, B.C., January 30, 2020 – Ximen Mining Corp. (TSX.v: XIM) (FRA: 1XMA) (OTCQB:
XXMMF) (the “Company” or “Ximen”) is pleased to announce that it is proceeding with a shares -
for-debt filing to pay outstanding debts of $ 270,000.00. Approximately 771,428 shares in the
capital stock of the Company will be issued to pay these outstanding payables. The shares -for-
debt agreement is subject to TSX Venture Exchange acceptance and, if issued, will be subject to
the customary four-month hold period.
The Company also announces that it has closed a tranche of its drawdown equity financing
facility with Alumina Partners (Ontario) Ltd., an affiliate of New York -based private equity firm
Alumina Partners LLC. In th is tranche closed on J anuary 29, 20 20, the Company drew down
$150,000 from Alumina with Alumina receiving 500,000 units of Ximen consisting of a
common share priced at 30 cents per share and an 18 -month warrant exercisable at 45 cents per
share. The hold expiry date for the placement is May 28, 2020. The net proceeds from the private
placement will be used for the further exploration on the Company’s British Columbia mineral
properties and general working capital.
The investment agreement will provide the Company with up to $8 -million over a 24 -month
period to finance its exploration and continuing acquisition of gold assets in British Columbia.
The investment agreement is structured to provide Ximen with relatively quick access to private
placement financing as and when required . Under the investment agreement, the company has
the right to draw down on the facility, at its sole discretion, through equity private placement
tranches of up to $500,000 each. Each tranche will be a placement of units, with each unit
comprising one Xim en common share and one common share purchase warrant. The units will
be priced at a discount of 15 per cent to 25 per cent from the then most recent closing price of the
shares on the TSX Venture Exchange at the time of the applicable company drawdown not ice to
Alumina. The warrants will be issued at a 25 -per-cent premium over the market price of the
shares and will have a term of 18 months. There are no standby charges or other upfront fees
associated with the investment agreement. Each tranche of units i ssued under the investment
agreement will be subject to the acceptance of the TSX Venture Exchange and the securities
issued will be subject to the customary four-month hold period.
Ximen Mining Corp News Release
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On behalf of the Board of Directors,
“Christopher R. Anderson”
Christopher R. Anderson,
President, CEO and Director
604 488-3900
Investor Relations: Sophy Cesar, 604-488-3900, [email protected]
About Ximen Mining Corp.
Ximen Mining Corp. owns 100% interest in three of its precious metal projects located in southern BC.
Ximen`s two Gold projects The Amelia Gold Mine and The Brett Epithermal Gold Project. Ximen also
owns the Treasure Mountain Silver Project adjacent to the past producing Huldra Silver Mine. Currently,
the Treasure Mountain Silver Project is under a option agreement. The option partner is making annual
staged cash and stocks payments as well as funding the development of the project. The company has
recently acquired control of the Kenville Gold mine near Nelson British Columbia which comes with
surface and underground rights, buildings and equipment.
Ximen is a publicly listed company trading on the TSX Venture Exchange under the symbol XIM, in the
USA under the symbol XXMMF, and in Frankfurt, Munich, and Berlin Stock Exchanges in Germany
under the symbol 1XMA and WKN with the number as A2JBKL.
Ximen Mining Corp News Release
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This press release contains certain "forward -looking statements" within the meaning of Canadian securities
legislation, including statements regarding the receipt of TSX Venture Exchange approval and the exercise of the
Option by Ximen. Although the Compan y believes that such statements are reasonable, it can give no assurance that
such expectations will prove to be correct. Forward -looking statements are statements that are not historical facts;
they are generally, but not always, identified by the words " expects," "plans," "anticipates," "believes," "intends,"
"estimates," "projects," "aims," "potential," "goal," "objective," "prospective," and similar expressions, or that events
or conditions "will," "would," "may," "can," "could" or "should" occur, or ar e those statements, which, by their
nature, refer to future events. The Company cautions that forward -looking statements are based on the beliefs,
estimates and opinions of the Company's management on the date the statements are made and they involve a num ber
of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate
and actual results and future events could differ materially from those anticipated in such statements. Except to the
extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes
no obligation to update these forward -looking statements if management's beliefs, estimates or opinions, or other
factors, should change. Factors that could ca use future results to differ materially from those anticipated in these
forward-looking statements include the possibility that the TSX Venture Exchange may not accept the proposed
transaction in a timely manner, if at all. The reader is urged to refer to the Company's reports, publicly available
through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at
www.sedar.com for a more complete discussion of such risk factors and their potential effects.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall
there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be
unlawful.
Neither 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.
Ximen Mining Corp
888 Dunsmuir Street - Suite 888, Vancouver, B.C., V6C 3K4 Tel: 604-488-3900