Callinex Mines Inc (TSX-V: CNX), a Canadian mineral exploration company, has completed its previously-announced private placement, raising $3.4 million. As a result, U.S. mining-focused private equity firm Resource Capital Funds (RCF) has assumed a 17.9 percent ownership stake in the company. The Vancouver-based Callinex said it will use the partnership with RCF to advance discovery and development of copper and zinc-rich deposits in Flin Flon, Manitoba’s mining district.
Resource Capital Funds Acquires 18% of Callinex Mines Inc.
Vancouver, British Columbia – August 6, 2015 – Callinex Mines Inc. (the “Company” or “Callinex”) (TSX-V: CNX; OTCQX: CLLXF) is pleased to announce that Resource Capital Fund VI L.P. (“RCF VI”) has acquired a 17.9% ownership stake in connection with the recently completed $3.4 million private placement. RCF VI, managed by RCF Management LLC (“Resource Capital Funds” or “RCF”) acquired 8,514,681 common shares and 1,666,667 warrants resulting in aggregate gross proceeds of $2,562,504 to the Company. Callinex views Resource Capital Funds as a long-term, patient shareholder that supports the Company’s mission to increase shareholder value by discovering and developing copper and zinc rich VMS deposits in Manitoba.
Callinex has high regard for Resource Capital Funds as a favorable source of equity capital given their extensive expertise in the mining cycle and reputation for disciplined, selective investing that typically results in long-term positions. Resource Capital Funds, which has assets under management of US$2.5B and, has invested in over 135 mining and mining services companies since 1998.
For additional information on RCF’s ownership stake in Callinex visit the Company’s SEDAR profile available at www.sedar.com.
About Resource Capital Funds
Resource Capital Funds is a private equity firm established in 1998 with a mining sector specific investment mandate spanning all hard mineral commodities and geographic regions. Since inception, RCF has supported 137 mining companies, with projects located in 44 countries and across 29 commodities. RCF is currently investing its sixth fund with committed capital of $2.04 billion. Further information about RCF can be found on its website (www.resourcecapitalfunds.com).
RCF has a strong team of technically diverse investment professionals, with wide ranging industry expertise and demonstrated history of investments in mining globally. RCF’s track record is based on its ability to pick technically and commercially compelling assets and support management to achieve desired outcomes whilst remaining throughout a source of patient capital. RCF aims to partner with companies to build strong, successful and sustainable businesses and in doing so strives to earn superior returns for all shareholders.
About Callinex Mines Inc.
Callinex Mines Inc., a Canadian mineral exploration company, is focused on discovering the next copper-zinc rich VMS mine within Manitoba’s prolific Flin Flon mining district. The Company’s flagship projects are the Flin Flon and Pine Bay projects which host significant historic VMS deposits and are within close proximity to a processing facility. The Flin Flon district has yielded more than 145 million tonnes of production from 32 mines.
For additional information, please contact:
Callinex Mines Inc.
Max Porterfield, President and Chief Executive Officer
Phone: (604) 605-0885
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