Canmex Minerals Corporation

August 17, 2005 18:40 ET

Canmex Minerals Corporation: Private Placement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 17, 2005) - Canmex Minerals Corporation (TSX VENTURE:CXM) (the "Company") reports that it has agreed to sell on a non-brokered, private placement basis up to an aggregate of 4 million units of the Company at a price of Cdn $0.80 per unit for gross proceeds of Cdn $3.2 million. Each unit shall consist of one common share and one share purchase warrant. Each warrant will be exercisable into one common share over a period of one year at a price of Cdn $1.00 per share. However, in the event the closing price of the Company's shares is Cdn $2.00 for 10 consecutive trading days following the expiry of the initial 4 month hold period, then the warrants shall expire 10 trading days from such event. The net proceeds of the private placement will be used for general working capital purposes.

The foregoing private placement is subject to regulatory approval.


Lukas H. Lundin, 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)