Canamex Closes $2,160,000 Financing With Gold Resource Corporation and Insiders Priced at a Then Premium to Market
01 March 2014 - 12:15AM
Marketwired
Canamex Closes $2,160,000 Financing With Gold Resource Corporation
and Insiders Priced at a Then Premium to Market
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 28, 2014) -
Canamex Resources Corp.
(TSX-VENTURE:CSQ)(OTCQX:CNMXF)(FRANKFURT:CX6) is pleased to
announce further to its News Release dated February 7, 2014 that it
has closed its equity financing, pursuant to which NYSEMKT-listed
Gold Resource Corporation ("GRC") acquired 22,222,222 common shares
of the Company and insiders acquired an additional 1,777,778 common
shares, at a price of nine cents per share which was then a 12.5%
premium to the closing price on the day agreement was reached, and
a premium of 13.75% to the volume weighted average price over the
prior 20 trading days.
The aggregate purchase price for the 24 million shares (the
"Shares") was $2,160,000. No warrants were issued and no fees were
paid in connection with this financing. Proceeds will be used for
exploration and development of the Company's Bruner Gold Project
located in Nye County, Nevada and for general working capital. The
Shares are subject to a hold period under applicable Canadian
securities laws expiring on June 28, 2014, and will be subject to
such further restrictions on resale as may apply under applicable
foreign securities laws.
GRC has the right to appoint one representative to the Board of
Directors of Canamex, provided that GRC holds more than 10% of the
issued and outstanding shares of Canamex.
Canamex CEO Kramer Comments:
"We are delighted to welcome GRC as a strategic investor,"
stated Canamex CEO Robert Kramer. "GRC management has a wealth of
experience in the gold mining sector, and we believe they fully
understand and support our vision for our flagship Bruner Gold
Project."
About GRC:
GRC is a mining company focused on production and pursuing
development of gold and silver projects that feature low operating
costs and produce high returns on capital. GRC has 100% interest in
six potential high-grade gold and silver properties in Mexico's
southern state of Oaxaca. GRC has 53,779,369 shares outstanding, no
warrants and no debt, and offers shareholders the option to convert
their cash dividends into physical gold and silver and take
delivery. For more information, please visit GRC's website located
at www.goldresourcecorp.com and read its 10-K for an understanding
of the risk factors involved.
ON BEHALF OF THE BOARD
Robert Kramer, CEO and Director
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.
Canamex Resources Corp.Robert KramerCEO and Director(604)
828-0067www.canamex.us
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