Canmex Minerals Corporation

April 05, 2007 18:18 ET

Canmex Closes Second Tranche of Cdn $20 Million Private Placement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 5, 2007) - Canmex Minerals Corporation ("Canmex" or "the Company") (TSX VENTURE:CXM) reports that it has closed the remaining Cdn $12.5 million of the non-brokered private placement announced on March 14, 2007. In total the Company sold an aggregate of 4 million common shares of the Company at a price of Cdn $5 per share for gross proceeds of Cdn $20 million. A 5% finders' fee, subject to regulatory approval, will be payable on a portion of the private placement. The shares issued pursuant to the private placement are subject to a four month hold period from the date of closing. Net proceeds of the private placement will be used towards the Company's proposed work program on the Nogal and Dharoor oil exploration projects in Puntland, Somalia as well as for general working capital purposes.

Forward-looking statements: This press release contains statements about expected or anticipated future events and financial results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as political risk, general economic, market and business conditions, the regulatory process and actions, technical issues, new legislation, competitive and general economic factors and conditions, the uncertainties resulting from potential delays or changes in plans, the occurrence of unexpected events and management's capacity to execute and implement its future plans. Actual results may differ materially from those projected by management.


Rick Schmitt, President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Canmex Minerals Corporation
    Sophia Shane
    Corporate Development
    (604) 689-7842
    (604) 689-4250 (FAX)