Oct 31, 2012
Callinex Closes Private Placement to Raise $690,000
VANCOUVER -- Callinex Mines Inc. (CNX -- TSX.V) (CLLXF -- OTCQX) ("Callinex") is pleased to announce that is has closed its non-brokered private placement to raise proceeds of $690,000 by the issuance of 1,725,000 common shares ("Shares") at a price of $0.40 per Share.
All Shares are subject to a four-month hold period and may not be traded in Canada until March 3, 2013, except as permitted by applicable Canadian securities laws and the TSX Venture Exchange.
Callinex intends to use the proceeds of the private placement to advance its exploration activities and for general working capital purposes.
On behalf of the Board of Directors,
Neither the 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
Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to future expenditures. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the ability to complete contemplated work programs and the timing and amount of expenditures. Callinex does not assume the obligation to update any forward-looking statement.