Ximen Mining closes $147,000 private placement

Executive Summary

• Ximen Mining Corp. closed a private placement of 2.94 M units at $0.05 per unit, raising $147,000 in gross proceeds.
• The company announced a forthcoming non‑brokered private placement of 7 M units at the same price, targeting $350,000 in gross proceeds.
• Net proceeds from both offerings will be used for exploration on British Columbia mineral properties and general working capital.

Key Details

• Closed Private Placement (Dec. 29 2025 announcement):
• Units sold: 2.94 million
• Price per unit: $0.05
• Gross proceeds: $147,000
• Unit composition: 1 common share + 1 transferable common‑share purchase warrant (exercise price $0.10, exercisable for 18 months).

• Hold period on securities expires June 24 2026.

• Financing Costs:

• Cash commission to Ventum Financial: $1,050 plus issuance of 21,000 finder warrants (same terms as placement warrants).

• Cash commission to Canaccord Genuity Corp.: $600 plus issuance of 12,000 finder warrants.

• Related‑Party Participation:

• Director/officer Christopher Anderson participated; transaction relied on MI 61‑101 exemptions (valuation < 25 % market cap, no minority shareholder approval required).

• Announced Non‑Brokered Private Placement:

• Units to be offered: 7 million
• Price per unit: $0.05
• Expected gross proceeds: $350,000
• Same unit composition and warrant terms as the closed placement.
• Hold period for new securities: four months and one day from closing date.

• Finders’ fees may be paid in accordance with TSX‑V policies; both offering and fees subject to TSX‑V approval.

• Use of Proceeds (both offerings):

• Exploration expenses on British Columbia mineral properties.

• General working capital.

• Regulatory Status:

• Closing of the initial private placement pending final TSX Venture Exchange approval.
• The upcoming non‑brokered offering also requires TSX‑V approval.

Notable Quotes

(No direct quotes were provided in the release.)