Chilean Metals Inc. Completes Private Placement
11 Juin 2014 - 2:35PM
Access Wire
Toronto, ON / ACCESSWIRE / June 11 2014 / Chilean Metals
Inc. ("Chilean Metals" or the "Company") (TSX.V:CMX), is pleased to
announce it has completed a non-brokered private placement for
$860,000 units, each unit consisting of one common share and one
half of a common share purchase warrant ("Unit") at a price of
$0.10 per Unit for total gross proceeds of up to $860,000 (the
"Offering") subject to TSX Venture Exchange approval. Each whole
common share purchase warrant ("Warrant") shall entitle the holder
to acquire one common share of the Company at a price of $0.15 per
share for a period of 12 months following the date of closing of
the Offering.
"The proceeds will be used to advance the company's
exploration projects,for general working capital and to enable us
to list on the OTC market in the USA. The Canadian capital markets
still are not favorable for junior resource companies and we feel
broadening our investment appeal by enabling our stock to be traded
in the United States makes a great deal of sense at this time.
commented Chilean Metals CEO Terry Lynch.
With the private placement completed we also have
appointed Dan Crandall from Marelli Accounting Services as our CFO
replacing James Albrecht. "James served the company well helping us
through the Copaquire transaction and the repositioning of company
and we wish him well in his new Financial Service sector position.
This move enables the company to save on overhead dollars while
still meeting our reporting obligations
The Company also announces the granting of 2,500,000 options to
management and board to acquire stock at a price of $0.25 per
share.
Chilean Metals Inc. owns six
100%-owned properties comprising over 50,000 acres strategically
located in the prolific IOCG ("Iron oxide-copper-gold") belt of
Chile. Three of these projects are under review by third parties
for possible purchase or joint venture.
ON BEHALF OF THE BOARD OF DIRECTORS
OF
Chilean Metals Inc.
"Terry Lynch"
Terry
Lynch, CEO
Contact:
terry@chileanmetals.com
Forward-looking Statements:
This news release may contain certain statements that may be deemed
"forward-looking statements". All statements in this release, other
than statements of historical fact, that address events or
developments that CMX expects to occur, are forward looking
statements. Forward-looking statements are statements that are not
historical facts and are generally, but not always, identified by
the words "expects", "plans", "anticipates", "believes", "intends",
"estimates", "projects", "potential" and similar expressions, or
that events or conditions "will", "would", "may", "could" or
"should" occur. Forward-looking statements in this document include
statements regarding current and future exploration programs,
activities and results. Although CMX believes the expectations
expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of
future performance and actual results may differ materially from
those in forward-looking statements. Factors that could cause the
actual results to differ materially from those in forward-looking
statements include market prices, exploitation and exploration
success, continued availability of capital and financing, inability
to obtain required regulatory or governmental approvals and general
economic, market or business conditions. Investors are cautioned
that any such statements are not guarantees of future performance
and actual results or developments may differ materially from those
projected in the forward looking statements.
Neither the 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.
SOURCE: Chilean Metals Inc.
Chilean Metals (TSXV:CMX)
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