Camino Minerals Corporation Announces Closing of First Tranche of Private Placement
Vancouver, BC – Camino Minerals Corporation (TSXV:COR, OTC PINK:CAMZF) (“Camino” or the “Company”), a mineral exploration company, is thrilled to announce the successful completion of the first tranche of its non-brokered private placement (the “Financing”).
Details of the Financing
Under the terms of the Financing, the Company issued an aggregate of 7,741,665 Common Shares at an issue price of $0.21 per Common Share, generating approximately $1,625,750 in gross proceeds.
Impact on Camino Minerals Corporation
The funds raised from the Financing will be used to advance the Company’s exploration projects, specifically the exploration drilling program at the Company’s Chapada copper-gold project in Brazil. This financing allows Camino to continue its mission of discovering and developing world-class mineral deposits.
Impact on the Mining Industry and Investors
The mining industry, particularly the exploration sector, relies heavily on financing to fund new projects and continue operations. The successful closing of the Financing by Camino Minerals Corporation is a positive sign for the industry as a whole. It demonstrates investor confidence in the Company’s projects and potential for future growth.
Further Exploration Plans
Camino’s exploration team is eager to commence drilling at the Chapada project, which is located in the prolific Carajás Mineral Province in Brazil. The Company holds a 100% interest in this project, which has shown promising results from previous exploration activities. The drilling program is expected to provide valuable data that will help Camino further understand the potential of the Chapada project.
Conclusion
The successful closing of the first tranche of the Financing marks an exciting milestone for Camino Minerals Corporation. With the funds in hand, the Company can move forward with its exploration plans at the Chapada project. This development not only benefits Camino but also serves as a positive sign for the mining industry and investors, demonstrating investor confidence in the sector.
- Camino Minerals Corporation completes first tranche of non-brokered private placement
- Raised approximately $1,625,750 through issuance of 7,741,665 Common Shares
- Funds will be used to advance exploration projects, specifically the Chapada copper-gold project in Brazil
- Successful closing of Financing is a positive sign for the mining industry and investors
Camino Minerals Corporation remains committed to its mission of discovering and developing world-class mineral deposits. Stay tuned for updates on the Company’s exploration activities and future financing plans.
