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Ximen Mining Announces USD 8 Million Equity Facility With Alumina Partners

Mining News - Published on Mon, 24 Jun 2019

Image Source: Micro Small Cap
Ximen Mining Corp has entered into an agreement for a drawdown equity financing facility with Alumina Partners Ontario Ltd, an affiliate of New York-based private equity firm Alumina Partners, LLC. The Investment Agreement will provide the Company with up to CAD 8.0 million over a 24 month period to finance its exploration and on-going acquisition of gold assets in British Columbia.

Mr Christopher Anderson, President and CEO of Ximen, said that "This Agreement pro vides Ximen with additional capital to expand our exploration program on our Brett Epithermal Gold property near Vernon BC and allows us to accelerate our work programs planned for the Kenville Gold Mine near Nelson, BC."

Mr Adi Nahmani, Managing Member of Alumina, said that "Alumina is excited to support Ximen as they move to systematically expand their precious metals holdings in the highly favorable mining jurisdiction of British Columbia. As the gradual sector rotation back toward precious metals continues to gain traction, we anticipate the strong management team at Ximen being able to translate their substantial asset base into the real revenue streams of a production-stage
company.”

Source :

Posted By : Sanju Moirangthem on Mon, 24 Jun 2019
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