Advancing precious metal assets in British Columbia
Advancing precious metal assets in British Columbia
December 30, 2024 TSX.V: XIM
FRA: 1XMA
OTCQB: XXMMF
Ximen Mining Closes
Financing
Vancouver, B.C., December 30, 2024 – Ximen Mining Corp . (TSX.v: XIM) (FRA: 1XMA) (OTCQB:
XXMMF) (the "Company" or "Ximen) is pleased to announce that it has closed its previously
announced non-brokered private placement on December 2 7, 2024, of 5,000,000 flow through
units at a price of $0.08 per share for gross proceeds of $400,000. Each Flow -Through share
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 common share purchase warrant. Each whole warrant will
entitle the holder to purchase one additional non-flow through common share at the price of $0.12
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.
All securities issued in connection with the placement closing will be subject to a hold period
expiring on April 28, 2025. The Company paid a cash commission of $24,000 and issued 300,000
finders warrants to PB Markets Inc. The finder warrants are valid for 3 years from closing with an
exercise price of $0.08.
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, 2025,
and will be renounced by the company to the initial purchasers of the FT shares with an effective
date no later than Dec. 31, 2024.
Ximen Mining Corp News Release
2
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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: 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 maintaining 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 result s
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.
Ximen Mining Corp News Release
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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