Advancing precious metal assets in British Columbia
Advancing precious metal assets in British Columbia
January 3, 2024 TSX.V: XIM
FRA: 1XMA
OTCQB: XXMMF
Ximen Mining Closes
Financing
Vancouver, B.C., January 3, 2024 – Ximen Mining Corp . (TSX.v: XIM) (FRA: 1XMA) (OTCQB:
XXMMF) (the "Company" or "Ximen) is pleased to announce that it has closed the non -brokered
private placement originally announced on December 15, 2023 by issuing 2,500,000 flow through
units at a price of $0.20 for gross proceeds of $500,000. Each Flow-Through unit consists of one
common share that qualifies as a “flow -through share” as defined in subsection 66(15) of the
Income Tax Act and one-half common share purchase warrant. Each whole warrant will entitle the
holder to purchase one additional non -flow through common share at the pri ce of $0.25 for 36
months after closing.
The net proceeds from the Offering will be used by the Company for exploration expenses on the
Company’s British Columbia mineral properties.
The Company paid a cash commission of $ 16,000 and issued 80,000 finders warrants to Qwest
Investment Fund Management Ltd. The finder warrants are valid for 3 years from closing with an
exercise price of $0.20. The Company also paid a cash commission of $2 ,240 and issued 11,200
finder warrants to PI Financial Corp. and paid a cash commission of $ 4,400 and issued 22,000
finder warrants to Canaccord Genuity Corp. These finder warrants are valid for 3 years from
closing with an exercise price of $0.25
The financing closed in two tranches with the first tranche of 1,000,000 shares having a hold period
until April 21, 2024 and the second tranche of 1,500,000 shares subject to a hold period expiring
April 29, 2024. The closing of this private placement financing is subject to final TSX-V approval.
The flow through shares will qualify as flow -through shares (within the meaning of Subsection
66(15) of the Income Tax Act (Canada). An amount equal to the gross proceeds from the issuance
of the flow through shares will be used to incur eligible resource exploration expenses which will
qualify as (i) Canadian exploration expenses (as defined in the Tax Act), and (ii) as flow -through
critical mineral mining expenditures (as defined in Subsection 127(9) of the Tax Act). Qualifying
expenditures in an aggregate amount not less than the gross proceeds raised from the issue of the
FT shares will be incurred (or deemed to be incurred) by the company on or before Dec. 31, 2024,
and will be renounced by the company to the initial purchasers of the FT shares with an effective
Ximen Mining Corp News Release
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date no later than Dec. 31, 2023.
Mr. Anderson a director and/or officer of the Company, participated in the Offering constituting a
related party transaction pursuant to TSX Venture Exchange Policy 5.9 and Multilateral Instrument
61-101 – Protection of Minority Security Holders in Special Tra nsactions (“MI 61 -101”). The
Company relied on section 5.5(a) of MI 61 -101 for an exemption from the formal valuation
requirement and section 5.7(1)(a) of MI 61 -101 for an exemption from the minority shareholder
approval requirement of MI 61-101 as the fair market value of the transaction did not exceed 25%
of the Company’s market capitalization.
On behalf of the Board of Directors,
"Christopher R. Anderson"
Christopher R. Anderson,
President, CEO and Director
604 488-3900
Investor Relations: 604-488-3900, [email protected]
About Ximen Mining Corp.
Ximen Mining Corp. is focused on acquiring high -grade gold assets in southern BC, with easy access and
solid infrastructure. Ximen aims to build a gold mining company with the blue -sky potential of a land
package with multi-million ounces of gold targeting over 10,000,000 OZ. Ximen strives to always to take a
100% interest in all its projects and assets. The Company has bought out all the possible NSR's on its key
mineral precious metal assets and several other assets in the vicinity of its holdings. Simultaneously, Ximen
is advancing the Kenville Gold Mine forward and on the path towards production. The focus remains on
meeting all the established targets while at the same time maintaini ng aversion towards debt and dilution.
All while moving forward with responsible development and sustainable mining and exploration practices
building Ethical and Sustainable Value.
Ximen Mining Corp News Release
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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.
This press release contains certain "forward-looking statements" within the meaning of Canadian securities. 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 Company 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 are 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 number 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 cause
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