December 27, 2012 11:34 ET
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 27, 2012) - Canamex Resources Corp. ("Canamex" or the "Company") (TSX VENTURE:CSQ)(OTCQX:CNMXF)(FRANKFURT:CX6) announces further to its News Release dated December 18, 2012, that pursuant to an Ancillary Rights Agreement dated November 21, 2012 (the "AR Agreement") with Hecla Canada Ltd. ("Hecla") it has closed an equity financing pursuant to which Hecla, a wholly-owned Canadian subsidiary of Hecla Mining Company, acquired 141,911 common shares (the "Shares") of the Company at a price of $0.15 per share for total proceeds of $21,286.65 on a private placement basis (the "Financing"). The Financing was arranged to enable Hecla to maintain its 14.8% interest in the Company's issued and outstanding common shares, as required under the AR Agreement. Refer to the Company's News Releases dated November 19 and 21, 2012 for particulars of the AR Agreement.
The Shares are subject to a statutory hold period which will expire on April 21, 2013 in accordance with applicable Canadian securities laws. However, Hecla has agreed that it will be restricted from selling the Shares for a period of 12 months following closing of a prior equity financing between Canamex and Hecla that occurred on November 21, 2012, except as may otherwise be approved by Canamex or in relation to any takeover bid made by a third party not acting in concert with Hecla.
Proceeds will be used for general corporate purposes.
ON BEHALF OF THE BOARD
Robert Kramer, CEO and Director
Neither the 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.
Canamex Resources Corp.Robert Kramer(604) 336-8621www.canamex.usRenmark Financial Communications Inc.Erica Lomonaco(514) 939-3989 or (416) firstname.lastname@example.orgRenmark Financial Communications Inc.Barbara Komorowski(514) 939-3989 or (416) email@example.com
See all RSS Newsfeeds