Ximen Mining Corp (TSX-V:XIM, OTCQB:XXMMF) said it has closed a private placing previously announced on June 28 and July 4, raising C$560,000 gross.
The net proceeds will be used for exploration at its British Columbia projects and for general working capital, the company said in a statement.
The financing comprised the issue of 8 million units at C$0.07 each. Each unit consists of one share and one transferable share purchase warrant.
Each whole warrant allows the holder to buy one additional share at an exercise price of C$0.10 per share for 60 months from issue.
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CEO Christopher Anderson participated in the placing, Ximen noted.
Ximen Mining owns 100% interest in three of its precious metal projects located in southern British Columbia. Ximen`s two Gold projects are The Amelia Gold Mine and The Brett Epithermal Gold Project.
The company has also acquired control of the Kenville Gold mine near Nelson British Columbia which comes with surface and underground rights, buildings and equipment.
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