Ximen Advances Ownership in the Kenville Gold Mine - Nelson BC
VANCOUVER, BC / ACCESSWIRE / May 2, 2019 / Ximen Mining Corp. (TSX-V: XIM, "Ximen" or the "Company") announces that it has entered into three related arm's length agreements to acquire a total of 18,475,014 common shares (the "Target Shares") of 099537 B.C. Ltd., a private B.C. company ("099537"), which has as its principal asset an option to acquire the Kenville Gold Mine, located west of Nelson, B.C. (the "Agreements").
" Ximen Mining is not only excited about the The Kenville Gold Mine acquisition, we are also extremely pleased with the additional new shareholders whom accompany the project, and have decided to join forces with us and share their optimistic enthusiasm and support."
says Chris Anderson, Ximen, CEO
The Target Shares will add to the Company's contemplated 099537 share acquisition announced in its press release of April 8, 2019. Readers may wish to refer to that previous release for more information about the Kenville Gold Mine.
In consideration for the Target Shares, being valued at $659,558 (i.e. $0.0357 per Target Share), the Company proposes to issue 942,226 common shares at a deemed issue price of $0.70 per Company share (the "Consideration Shares").
The acquisition of the Target Shares is subject to TSX Venture Exchange (the "Exchange") acceptance of the Agreements. The Consideration Shares will be subject to a customary 4-month, plus one day, hold period running from the date on which they are issued. The acquisition the Target Shares is expected to complete by May 30, 2019.
On behalf of the Board of Directors,
"Christopher R. Anderson"
Christopher R. Anderson, President, CEO and Director 604 488-3900
Investor Relations: Mr. William Sattlegger, 604-488-3900 ir@XimenMiningCorp.com
About Ximen Mining Corp.
Ximen Mining Corp. owns 100 percent interest in all three of its precious metal projects. Ximen's two gold projects, The Gold Drop Project and Brett Gold Project are located in southern British Columbia. Ximen also owns the Treasure Mountain Silver project adjacent to the past producing Huldra Silver Mine. Ximen is a publicly listed company trading on the TSX Venture Exchange under the symbol XIM, in the USA under the symbol XXMMF, and in Frankfurt, Munich, and Berlin Stock Exchanges in Germany under the symbol 1XM and WKN with the number as A1W2EG.
This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, including statements regarding the requirement for TSX Venture Exchange acceptance of the above-described Agreements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective," "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the possibility that the TSX Venture Exchange may not accept the proposed transaction in a timely manner, if at all. The reader is urged to refer to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful.
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.
Ximen Mining Corp
888 Dunsmuir Street - Suite 888, Vancouver, B.C., V6C 3K4 Tel: 604-488-3900
SOURCE: Ximen Mining Corp.