VANCOUVER -- Callinex Mines Inc. (TSX.V-CNX) (OTCQX -- CLLXF) ("Callinex") is pleased to announce that is has closed its non-brokered private placement to raise proceeds of $1,356,000 by the issuance of 9,040,000 units (the "Units") at a price of $0.15 per Unit. Each Unit consists of one flow-through common share (a "Share") and one share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one non flow-through common share of the Company at the price of $0.20 per share until July 25, 2015.
All Shares, Warrants and any shares issued on exercise of the Warrants are subject to a four-month hold period and may not be traded in Canada until November 26, 2013, except as permitted by applicable Canadian securities laws and the TSX Venture Exchange.
In connection with the private placement, Callinex paid finders' fees in the amount of $76,650 in cash.
Callinex is using the proceeds of the private placement to advance its exploration activities in Manitoba.
On Behalf of the Board of Directors,
President and CEO