VANCOUVER, British Columbia, March 11, 2014 (GLOBE NEWSWIRE) -- (TSX-V:XIM) Ximen Mining Corp. (the "Company" or "Ximen") is pleased to announce that it has submitted final documentation for the first tranche of its 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. A total of $682,275 has been completed and the final tranche is expected to be submitted within a few days. 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 Company also announces an update to a news release dated February 27, 2014, announcing that it has retained Mr. Ward Kondas to provide investor relations services. The term of the agreement shall be for one year at a monthly fee of $7,500.
XIMEN MINING CORP.
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.