Toronto, Ontario--(Newsfile Corp. - January 31, 2019) - Jiminex Inc. ("Jiminex" or the "Company") is pleased to announce the closing of the third tranche of a non-brokered private placement for gross proceeds to $232,000 (the "Offering") on December 10, 2018, through issuance of 3,866,666 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 $20,880 and granted 347,999 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, as well as to advance a bridge loan to Alkaline Spring Inc., as previously disclosed in the Company's news release of October 22, 2018.
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.
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