Ximen Mining Corp, a Vancouver-based acquirer of high-grade gold assets in southern British Columbia, has extended a drawdown equity financing facility of up to $8 million. The investor is US private equity firm Alumina Partners. Ximen will use the funds raised for working capital and opportunities that may arise.
VANCOUVER, BC / ACCESSWIRE / January 25, 2022 / Ximen Mining Corp. (TSXV:XIM) (FRA:1XMA) (OTCQB:XXMMF) (the “Company” or “Ximen”) is pleased to announce it has entered into an extension to its investment agreement with Alumina Partners (Ontario) Ltd., an affiliate of New York-based private equity firm Alumina Partners LLC. providing a drawdown equity financing facility of up to $8,000,000 over the next twenty-four months.
For clarity purposes this is not a debt facility. Funds are advanced by way of a private placement with a common share at a regular discount and a warrant at a 25% premium to market. This is initiated at the Company’s request and has a maximum limit of up to $500,000 per request.
The Company will use the funds for general working capital and unique opportunities as they may arise in the context of the Company’s day to day business. In working with Alumina partners over the past two years the Company is extremely pleased with the timely execution of the private placements, and appreciative of the support and market knowledge the group possesses.
About Ximen Mining Corp.
Junior Mining Network
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. 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.