VANCOUVER, British Columbia, Feb. 27, 2014 (GLOBE NEWSWIRE) -- (TSX-V:XIM) Ximen Mining Corp. (the "Company" or "Ximen") is pleased to announce that it has retained Ward Kondas to provide Investor Relations services for the Company.
Mr. Kondas has 14 years of public market experience in the conventional and alternative energy space in both Corporate Communications and Corporate Finance roles and formerly served with Allegiant Financial Group Inc. managing the company's investment banking and operational advisory business, covering corporate finance, mergers & acquisitions and public and private equity funding, in a range of industries including; conventional and alternative energy, resource, and industrial manufacturing.
The Company further announces that it has arranged non-brokered private placement consisting of 1,227,273 units at a price of $0.55 per unit in the capital stock of the Company for gross proceeds of $675,000. Each unit will consist of one common share and one half share purchase warrant. Each full share purchase warrant will entitle the holder thereof to purchase one additional share of the Company at a price of $1.00 per share for a period of 18 months from the closing date of the private placement. Closing of this placement is conditional upon approval of the TSX Venture Exchange. The term of the Warrants may be accelerated in the event that the Issuer's shares trade at or above a price of $1.10 per share for a period of 10 consecutive trading days. In such case, the Issuer may give notice, in writing and by way of news release, to the Subscribers that the Warrants will expire 30 days from the date of providing such notice. Finders fees of up to 7% and finders warrants of up to 7% may be payable on the financing.
XIMEN MINING CORP.
Per: "On behalf of the board"
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.
Statements in this press release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
For more information, please contact: Ximen Mining Corp. 604-488-3900