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Ximen Mining increases size of equity funding

Last updated: 06:49 30 Jan 2015 GMT, First published: 07:49 30 Jan 2015 GMT

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Ximen Mining (CVE:XIM) has told investors it will increase the size of a fund raise by selling additional ‘non-follow through’ units.

It now proposes to issue 7mln units, comprising one common share and a non-transferable warrant, each priced at 15 cents each.

This will increase the total size of the fund raise up to $1.05mln.

Last month Ximen announced plans for the issue of 4mln units, as part of a larger placing also comprising the sale of 1.5mln units with the tax efficient ‘follow through’ status with each of those units priced at 20 cents.

The cash injection is earmarked for exploration.

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