Ximen Mining (CVE:XIM) has closed the last tranche under its previously announced private placing and appointed a new independent director.

Scott Kent brings to the team over 18 years of sales and marketing expertise and has many years of experience in public relations, the company said.

Director Travis Snyder has stepped down with immediate effect.

The firm has also issued around 1.3mln shares to settle debt, which have a hold expiry of August 15 this year, it said.

In December last year, Ximen said it planned to raise up to C$900,000 but then in January said it would increase the total size of the fundraise to up to C$1.05mln to fund exploration as well as boosting general working capital.