Ximen Mining Corp. Corporate Update Announcement

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Algemeen advies 17/11/2021 07:00
VANCOUVER, BC / ACCESSWIRE / November 16, 2021 / Ximen Mining Corp. (TSXV:XIM)(FRA:1XMA)(OTCQB:XXMMF) (the "Company" or "Ximen") is pleased to announce that it has closed the first tranche of a non-brokered private placement originally announced on October 29, 2021 consisting of 831,818 flow through shares at a price of $0.22 cents per share for gross proceeds of $183,000.00. Each Flow-Through share consists of one common share that qualifies as a "flow-through share" as defined in subsection 66(15) of the Income Tax Act and one transferable common share purchase warrant. Each whole warrant will entitle the holder to purchase, for a period of 36 months from the date of issue, one additional non-flow-through common share of the Issuer at an exercise price of Cdn$0.35 per share.

The net proceeds from the Offering will be used by the Company for exploration expenses on the Company's British Columbia mineral properties.

The Company paid a cash commission of $6,545.00 and issued 29,750 finders warrants to Haywood Securities Inc. The finder warrants are valid for 3 years from closing with an exercise price of $0.35. All securities issued in connection with the flow through Offering will be subject to a hold period expiring March 10, 2022. The closing of this private placement financing is subject to final TSX-V approval.

On behalf of the Board of Directors,

"Christopher R. Anderson"

Christopher R. Anderson,
President, CEO and Director

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