Ximen Mining Corp (OTCMKTS:XXMMF) Stock On Watchlist After Financing News

After the company made an announcement with regards to a non-brokered private placement on Thursday, the Ximen Mining Corp (OTCMKTS:XXMMF) stock came into sharp focus among investors and ended up with gains of as much as 10% for the day.

Ximen Mining Arranges Financing

The company announced yesterday that it was going to offer as many as 1,200,000 flow-through shares at the price of $0.15 each as part of the non-brokered private placement and hoped to generate gross proceeds to the tune of $180,000. Each flow-through share is going to be made up of one common share in Ximen and one common share purchase warrant.

Those who hold a warrant would be entitled to pick up a common share in Ximen at the exercise price of C$0.20 a share 60 months from the day of issuance. The proceeds from the offering are going to be used by the company for taking care of its exploration expenses at its projects located in British Columbia. Eligible finders may also be eligible for a finder’s fee as per the rules and regulations of the TSX Venture Exchange. It will be interesting to see if the stock can hold onto its momentum this morning.

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