Stocks & Investing
Stocks and Investing
Stocks and Investing
Sat, March 5, 2011
Fri, March 4, 2011 
VANCOUVER, March 4 /CNW/ - Callinan Mines Limited ("Callinan") (CAA-TSXV) announces that it has closed a private placement with Roland Butler comprising two million units of Callinan at the price of $2.19 cents per unit to raise proceeds of $4,380,000. Each unit is comprised of one common share of Callinan and one non-transferable common share purchase warrant, with each warrant exercisable until March 4, 2016 to purchase one additional common share of Callinan at a price of $2.58 per share.
The proceeds from the private placement will be applied to Callinan's general working capital.
The shares and warrants issued as part of the private placement, and any common shares issued on the exercise of the warrants, are subject to a hold period and may not be traded in Canada until July 5, 2011, except as permitted by applicable Canadian securities laws and the TSX Venture Exchange.
On Behalf of the Board of Directors,
Mike Muzylowski
President and CEO
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.
Some statements in this news release may contain forward-looking information.. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the timing and amount of expenditures. Callinan does not assume the obligation to update any forward-looking statement.
