-
Actor behind Albania's AI 'minister' wants her face back
-
Von Allmen joins Olympic skiing greats, Kim seeks snowboard history
-
Eat less meat, France urges, for sake of health, climate
-
Australia cruise past Ireland at World Cup after skipper Marsh ruled out
-
IOC to try to convince Ukrainian not to wear banned helmet
-
Barca missing Rashford, Raphinha for Atletico cup clash
-
Tractors hit Madrid to protest EU's trade deal with South America
-
US snowboard star Kim stays on track for historic Olympic hat-trick
-
The obstacles to holding war-time elections in Ukraine
-
History-maker Von Allmen wins third Olympic gold
-
Depleted Australia reach 182-6 as skipper Marsh ruled out of Ireland clash
-
Dutch court orders investigation into China-owned Nexperia
-
US snowboard star Kim stays on track for Olympic hat-trick
-
Spurs sack Frank after miserable eight-month reign
-
Hong Kong journalists face 'precarious' future after Jimmy Lai jailed
-
French AI firm Mistral to build data centres in Sweden
-
Frank sacked by Spurs after Newcastle defeat
-
South Africa pip Afghanistan in double super over T20 thriller
-
Three Ukrainian toddlers, father, killed in Russian drone attack
-
Siemens Energy trebles profit as AI boosts power demand
-
WTO must reform, 'status quo is not an option': chief
-
European airlines warn of 'severe disruption' from new border checks
-
French rape survivor Gisele Pelicot to reveal pain and courage in memoirs
-
EU eyes tighter registration, no-fly zones to tackle drone threats
-
Shooter kills 9 at Canadian school, residence
-
Australia captain Marsh out of World Cup opener, Steve Smith to fly in
-
Spanish PM vows justice, defends rail safety after deadly accidents
-
Meloni and Merz: EU's new power couple
-
Veteran Tajik leader's absence raises health questions
-
EU must 'tear down barriers' to become 'global giant': von der Leyen
-
US grand jury rejects bid to indict Democrats over illegal orders video
-
Struggling brewer Heineken to cut up to 6,000 jobs
-
Asian stock markets rise, dollar dips as traders await US jobs
-
Britain's Harris Dickinson on John Lennon, directing and news overload
-
9 killed in Canada mass shooting that targeted school, residence
-
Wembanyama scores 40 as Spurs rout Lakers, Pacers stun Knicks
-
UK's crumbling canals threatened with collapse
-
Hong Kong convicts father of wanted activist over handling of funds
-
Australia charges two Chinese nationals with foreign interference
-
'Overloading' may have led to deadly Philippine ferry sinking
-
Bangladesh to vote on democratic reform charter
-
China coach warns of 'gap' ahead of Women's Asian Cup title defence
-
Glitzy Oscar nominees luncheon back one year after LA fires
-
Pacers outlast Knicks in overtime
-
9 killed in Canada mass shooting that targeted school, residence: police
-
De Zerbi leaves Marseille 'by mutual agreement'
-
Netanyahu to push Trump on Iran missiles in White House talks
-
England captain Stokes has surgery after being hit in face by ball
-
Rennie, Joseph lead running to become next All Blacks coach
-
Asian stock markets mixed as traders weigh US data, await jobs
Camino Announces a Private Placement of up to CAD$2.0 Million
Camino Minerals Corporation (TSXV:COR)(OTC PINK:CAMZF) ("Camino" or the "Company") is pleased to announce that, further to its news release dated October 7, 2024 regarding the Company's proposed joint acquisition of the Puquios copper project ("Puquios") in Chile and the financing referenced therein, it is arranging a non-brokered private placement to raise total gross proceeds of up to CAD$2,000,000 (the "Financing"). The Financing will consist of the issue of up to 57,142,857 common shares of the Company (each, a "Share") at a price per Share of CAD$0.035. The Company may pay finders' fees in connection with the Financing, in accordance with applicable securities laws. The Financing does not include any discount to the latest closing price of the Company's common shares or any attached warrants. The gross proceeds from the Financing will be allocated towards corporate working capital, legal expenses, engineering studies, and general administrative expenses and other expenses associated with closing the Puquios acquisition.
Denham Capital has committed CAD$500,000 as the lead order for this Financing. Separate Denham Capital-advised funds hold a shareholder interest in Camino of approximately 15% and Justin Machin, a Managing Director of Denham Capital, is also a member of the Camino board of directors. Additional commitments include CAD$200,000 from institutional investors and indicative orders of CAD$300,000 from other investors. Furthermore, the Company anticipates a strategic investment of up to CAD$1,000,000 from a prospective investor. The Company may receive commitments as part of the Financing from management, directors, and existing shareholders of Camino.
The participation in the Financing by related parties constitutes a "related party transaction" as defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") and Policy 5.9 - Protection of Minority Security Holders in Special Transactions of the TSX Venture Exchange (the "Exchange"). Pursuant to sections 5.5(a) and 5.7(1)(a) of MI 61-101, the Company is exempt from obtaining a formal valuation and minority approval of the Company's shareholders in respect of the related party participation in the Financing due to the fair market value of the related party participation being below 25% of the Company's market capitalization for the purposes of MI 61-101.
All securities issued and sold under the Financing will be subject to a hold period expiring four months and one day from their date of issuance. Completion of the Financing remain subject to the receipt of all necessary regulatory approvals, including the approval of the Exchange.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available.
About Camino
Camino is a discovery and development stage copper exploration company. On October 7, 2024, Camino signed a Definitive Agreement to purchase the construction-ready Puquios copper mine in Chile. Camino is focused on developing copper producing assets such as Puquios, and advancing its IOCG Los Chapitos copper project located in Peru through to resource delineation and development, and to add new discoveries. Camino has also permitted the Maria Cecilia copper porphyry project for exploration discovery drilling to add to its NI43-101 resources. In addition, Camino has increased its land position at its copper and silver Plata Dorada project. Camino seeks to acquire a portfolio of advanced copper assets that have the potential to deliver copper into an electrifying copper intensive global economy. For more information, please refer to Camino's website at www.caminocorp.com.
ON BEHALF OF THE BOARD | For further information, please contact: |
/S/ "Jay Chmelauskas" | Camino Investor Relations |
President and CEO | |
Tel: (604) 493-2058 |
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward Looking Statements: Certain disclosures in this release constitute forward-looking information. In making the forward-looking disclosures in this release, the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company. Forward-looking information in the release includes the terms and conditions of the Financing, subscription commitments to the Financing, the use of proceeds of the Financing, the timing and ability of the Company to obtain final approval of the Financing from the TSX Venture Exchange, and an exemption being available under MI 61-101 and Policy 5.9 of the TSX Venture Exchange from the minority shareholder approval and valuation requirements. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking information in this release is subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking information. Such risk factors include, among others, that actual results of the Company's exploration activities may be different than those expected by management, that the Financing may not be fully subscribed or completed on the terms described herein, that the Company may be unable to obtain or will experience delays in obtaining any required authorizations and approvals and the state of equity and commodity markets. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
SOURCE: Camino Minerals Corp
A.Malone--AMWN