/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER U.S. NEWSWIRE
SERVICES/
TSX Venture: COR
OTCQB: CAMZF
Frankfurt: XC01
VANCOUVER, Feb. 1, 2018 /CNW/ - Camino Minerals
Corporation ("Camino" or the "Company") (COR: TSX-V) wishes to
announce that it intends to raise up to $2,100,000 by way of a private placement, to fund
additional drilling at its Los Chapitos project ("Chapitos"),
located in southern Peru.
The non-brokered private placement will consist of up to
6,000,000 units at a price of $0.35
per unit for aggregate proceeds of up to $2,100,000. Each unit will consist of one common
share of the Company and one half non-transferable share purchase
warrant. Each whole warrant will entitle the holder to acquire one
additional common share of the Company at a price of $0.50 per common share for a period of 18 months
after the closing date of the private placement. The warrants will
be subject to an acceleration right in favor of the Company: should
the closing price of the common shares of the Company on the TSX
Venture Exchange be $0.75 or higher
for ten consecutive trading days, the Company will be entitled to
accelerate the expiry of the warrants to the date that is 30
business days from the date of the issuance of a news release by
the Company announcing the exercise of the acceleration right.
The securities issued under the offering will be subject to a
hold period of four months and finders' fees may be payable in
connection with the issuance of the securities. The private
placement is subject to applicable regulatory approvals, including
the approval of the TSX Venture Exchange. The Shares offered
have not been and will not be registered under the United States
Securities Act of 1933, as amended, and may not be offered or sold
in the United States absent
registration or an applicable exemption from the registration
requirements of such Act.
Net proceeds of the private placement will be used to fund
ongoing exploration, including additional diamond drilling at the
Chapitos Project and for general working capital.
Kenneth C. McNaughton, M.A.Sc.,
P.Eng., is the Qualified Person (QP) responsible for the Chapitos
project.
About Camino Minerals Corporation
Camino is a discovery-oriented mineral exploration company. The
Company is focused on the acquisition and development of high-grade
copper and precious metal projects. For more information, please
refer to Camino's website at www.caminominerals.com.
Cautionary Note Regarding Forward-Looking Statements and
Information
This News Release contains "forward-looking information" and
"forward looking statements" within the meaning of applicable
Canadian and United States
securities legislation. Statements contained herein that are not
based on historical or current fact, including without limitation
statements containing the words "anticipates," "believes," "may,"
"continues," "estimates," "expects," and "will" and words of
similar import, constitute "forward-looking statements" within the
meaning of the U.S. Private Securities Litigation Reform Act of
1995.
Forward-looking information may include, but is not limited to,
information with respect to our planned exploration activities, the
adequacy of our financial resources, the estimation of mineral
reserves and resources, the results of future exploration and
drilling. Wherever possible, words such as "plans",
"expects", "projects", "assumes", "budget", "strategy",
"scheduled", "estimates", "forecasts", "anticipates", "believes",
"intends", "targets" and similar expressions or statements that
certain actions, events or results "may", "could", "would", "might"
or "will" be taken, occur or be achieved, or the negative forms of
any of these terms and similar expressions, have been used to
identify forward-looking statements and information.
Forward-looking information is subject to a variety of known and
unknown risks, uncertainties and other factors that could cause
actual events or results to differ from those expressed or implied
by the forward-looking information, including, without limitation,
those risks identified in the Company's annual disclosure
materials, filed with the securities regulatory authorities in
Canada and available at
www.sedar.com. Readers are encouraged to read these
materials. Prospective investors should not place undue
reliance on forward-looking information.
Neither the 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.
SOURCE Camino Minerals Corporation