Edmonton, Alberta--(Newsfile Corp. - August 22, 2019) - Camino Minerals Corp. (TSXV: COR) (OTCQB: CAMZF) (WKN: A116E1) ("Camino" or the "Company") is pleased to announce that is it has closed the second tranche of 2,018,666 units of its previously announced private placement offering (the "Offering") of up to 10,000,000 units (the "Units") at an offering price of $0.15 per Unit (see the Company's press release dated June 11, 2019), to raise gross proceeds under the first two closings of over $1 million.
Each Unit consists of one (1) common share of the Company, and one (1) share purchase warrant (the "Warrants") to acquire one additional common share at an exercise price of $0.25 per share until June 26, 2021. In the event that the common shares of the Company trade at a closing price greater than $0.35 per share for a period of 10 consecutive days, then the Company may deliver a notice to the Warrant holders that they must exercise their Warrants within the next 30 days, or the Warrants will expire. The net proceeds of the Offering will be used to finance further work on the Company's Chapitos Copper-Gold project, Peru, as well as to provide the Company with working capital for general and administrative expenses.
Certain arm's length finders received cash fees in total equal to $13,000 and were also issued a total of 86,660 Warrants in connection with the Offering. All securities issued will be subject to resale restrictions until December 21, 2019.
About Camino Minerals Corporation
Camino is a discovery-oriented mineral exploration company. The Company is focused on the acquisition and development of high-grade copper and precious metal projects. For more information, please refer to Camino's website at www.caminominerals.com.
ON BEHALF OF THE BOARD
/S/ "John Williamson"
President and CEO
For Further information, please contact:
Jeremy Yaseniuk, Director
Tel: (604) 773-1467
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.
This news release may contain certain "forward looking statements". Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
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