Colombian Mines Closes $2.1 Million in Private Placements

Colombian Mines Corporation (TSXV:CMJ,FWB:X6C) has closed 2 private placements for gross proceeds of $2.082 million. The International Finance Corporation, member of the World Bank Group, invested $1 million.

As quoted in the press release:

The IFC Placement consisted of 3,333,333 units and the non-IFC placement consisted of 3,608,333 units (collectively, the “Units”), each at a price of $0.30 per Unit. Each Unit consists of one common share of stock and one full share purchase warrant that entitles the holder to purchase one additional share of the Company’s common stock for five years at an exercise price of $0.45 per share. The shares are subject to a mandatory four month hold period. Finder’s fees were paid on a portion of the non-IFC placement, no finder’s fee was paid on the IFC placement. In addition, the TSX Venture Exchange charged fees of $11,912.50 (filing fee + 0.5% of gross proceeds) of the total placements.

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