Toronto, Ontario--(Newsfile Corp. - October 3, 2019) - Jiminex Inc. ("Jiminex" or the "Company") is pleased to announce the closing of the fourth tranche for a total of $287,116.62 of it's previously announced non-brokered private placement (the "Offering") through issuance of 4,785,277 common shares in the share capital of the Company (each, a "Common Share" and collectively, the "Common Shares") at $0.06 per Common Share. The terms of the Offering remain the same as disclosed in the Company's news release dated October 22, 2018.
In connection with the closing of this tranche, the Company paid certain eligible persons cash commission of $23,621.10 and granted 393,685 finder's and compensation warrants (collectively, the "Warrants") to acquire Common Shares. The Warrants are exercisable at a price of $0.06 per Common Share for a period of 36 months following the closing date of the Offering.
All of the securities issued in connection with the Offering are subject to a "hold period" of four months plus one day from the date of closing pursuant to applicable securities laws. The Company is hopeful that it may complete one or more additional tranches of the Offering in the near future.
The net proceeds of the Offering will be used by the Company for the payment of general working capital purposes.
About Jiminex Inc.
Jiminex is a junior mineral exploration company.
For more information, please contact:
Binyomin Posen, CEO and Director
Telephone: (416) 481.2222 x 246
Cautionary Statements Regarding Forward Looking Information
This news release contains "forward-looking information" within the meaning of applicable securities laws. Any such forward-looking statements may be identified by words such as "expects", "anticipates", "believes", "projects", "plans" and similar expressions. Readers are cautioned not to place undue reliance on forward-looking statements. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements.
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/48483