Connect with us

Today’s News

CMX Announces Closing of Financing and Shares-For-Debt Private Placement

CALGARY, ALBERTA – TheNewswire – November 19, 2021 – CMX Gold & Silver Corp. (CSE:CXC) (OTC:CXXMF) (CNSX:CXC.CN) (“CMX” or the “Company”)…



[nxtlink id=

CALGARY, ALBERTA – TheNewswire – November 19, 2021CMX Gold & Silver Corp. (CSE:CXC) (OTC:CXXMF) (CNSX:CXC.CN) (“CMX” or the “Company”) announces that CMX has closed a private placement of 3,470,000 units (the “Units”) and a shares-for-debt private placement of 15,915,000 common shares (the “Shares”). The two private placements substantially improved the financial condition of the Company by eliminating most of its debt.

The Units were issued for $0.05 per Unit, with each Unit comprised of one Share and one Share purchase warrant exercisable for two years at $0.10 per share. Units for $90,000 were issued for cash and the balance of $83,500 of Units were issued for settlement of debt. The private placement of Shares, issued for $0.075 per Share, settled $1,193,625 of debt. All securities issued under the private placements are subject to a hold period in accordance with applicable Canadian securities laws of four months and one day from closing. After the two private placements, CMX has 62,690,724 Shares issued and outstanding.

The two private placements place CMX on a firm financial footing, which supports the Company’s application for reinstatement of trading on the Canadian Securities Exchange. CMX’s application for reinstatement is being reviewed currently by the CSE, which follows the previously announced October 4, 2021 revocation of the cease trade order against CMX. Jan Alston, President & CEO of CMX, stated: “Eliminating substantially all of the legacy debt obligations incurred by the Company over the past five to ten years was a necessary step in the reactivation of CMX, placing the Company in a strong position to attract funding for future exploration programs on its wholly-owned Clayton Silver Project in Idaho. The timing is perfect for CMX to participate in the positive cycle for commodities, especially for silver.”

Related persons have subscribed for Units and Shares pursuant to the two private placements. Two directors, a company controlled by a director, two senior officers, a company controlled by the spouse of a senior officer, and an insider owning greater than ten percent of CMX Shares issued and outstanding have collectively subscribed for 1,800,000 Units and 11,375,000 Shares. Therefore, the transaction constitutes a related party transaction under the provisions of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company has relied on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in Sections 5.5(b) and 5.7(1)(a) of MI 61-101 for participation of the related parties in the private placements, because CMX is not listed on certain specified markets, and neither the fair market value of, nor the fair market value of the consideration for, the transaction, insofar as it involves the related parties, exceeded 25% of CMX’s market capitalization. Further details will be included in a material change report to be filed by the Company on SEDAR. A material change report was not filed 21 days prior to the date of the material change, as the details of the transaction had not been confirmed at that time and no person will be prejudiced by such shorter period.

About the Clayton Silver Project

CMX’s major asset is the 100%-owned Clayton Silver Property located in the mining-friendly State of Idaho, U.S.A. The property comprises approximately 276 ha (684 acres) in Custer County in south-central Idaho, including the former Clayton silver-lead-zinc mine. The Clayton Mine was developed on eight levels to a depth of 1,100 feet (335 meters) below surface and is comprised of approximately 6,000 meters (19,690 feet) of underground development. Two major ore bodies were partially mined: the “South Ore Body” and the “North Ore Body”.  Both are tabular ore bodies raking northeast to depth. Production was initiated on the South Ore Body and development extended to the North Ore Body. As a result of lower silver prices, the mine was closed in early 1986. Mineralization is open to the north, the south and to depth, all of which is untested. For example, there is potential for resources to exist at shallower depths below and adjacent to the South Ore Body.

The recorded production from the Clayton Mine included 7,031,110 oz silver, 86,771,527 lbs lead, 28,172,211 lbs zinc, 1,664,177 lbs copper, and minor amounts of gold from an estimated 2,145,652 tonnes of ore mined between 1934 and 1985.  Mineralization was originally discovered in 1877 and the mine operated almost continuously for 50 years until its closure in 1986. The Company has compiled and comprehensively reviewed available historical drilling and mining information for the Clayton Mine. Very little exploration has been carried out previously on the Clayton Silver Property. Significant potential is demonstrated in hole 1501-A, drilled in the mid-1960’s, which penetrated the mineralized zone at 1,425 feet. At that depth, the hole intercepted 22 feet of 4.07 oz Ag/t, 5.75% lead and 5.37% zinc (note: true width is unknown).

Dependent on raising the necessary funds, CMX plans to carry out geophysics and diamond drilling on the Clayton Silver Property commencing in spring 2022.

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

For further information contact:  Jan M. Alston, President & C.E.O. at (403) 457-2697 or at [email protected]; or visit the Company’s Website:


WARNING: the Company relies upon litigation protection for “forward looking” statements. The information in this release may contain forward-looking information under applicable securities laws. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied by the forward-looking information. Factors that may cause actual results to vary materially include, but are not limited to, inaccurate assumptions concerning the operations of the Company, changes to securities regulation requirements, other changes in laws or regulations, unanticipated risks of the COVID-19 pandemic crisis, changes in general economic conditions or conditions in the financial markets and the inability to raise additional financing. Readers are cautioned not to place undue reliance on this forward-looking information. The Company does not assume the obligation to revise or update this forward-looking information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.

Copyright (c) 2021 TheNewswire – All rights reserved.

Author: Author

Today’s News

World Gold Council Report Underscores Barrick’s Leading Role in Sharing the Benefits of Mining

All amounts expressed in US dollarsTORONTO, Nov. 30, 2021 (GLOBE NEWSWIRE) — Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX) today welcomed the release…

All amounts expressed in US dollars

TORONTO, Nov. 30, 2021 (GLOBE NEWSWIRE) — Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX) today welcomed the release of the World Gold Council’s report highlighting the role of its members in contributing to socio-economic development in the countries and communities in which they operate. According to the report, available at, this contribution amounted to almost $38 billion in 38 countries last year, in the form of payments to governments, employees and suppliers.

Barrick’s status as an industry leader in socio-economic development was underscored by the comparison between its performance and the industrywide figures reported by the World Gold Council:

  • 97% of Barrick’s employees and contractors were host country nationals, compared to 95% reported cumulatively by the World Gold Council member companies;
  • Barrick paid $1.8 billion out of the total $7.6 billion reported in taxes, royalties and dividends to host governments;
  • $4.5 billion of the total $26 billion spent on goods and services was spent with local and national suppliers; and
  • Barrick’s total economic contributions amounted to $12.1 billion out of the total $37.9 billion contribution reported for the 2020 year.

Barrick president and chief executive Mark Bristow said that the company’s ability to share the benefits of mining was one of the key ways it measured its success. “We partner with our host communities and countries to transform their natural resources into tangible benefits and mutual prosperity. Additionally, we hire talented individuals from the communities closest to our mines and train them to world-class standards; we leverage our supply chain to facilitate the growth of thriving and self-sustaining businesses; and our taxes further contribute to the economic development of the countries and communities in which we operate,” he said.

“This all happened against the backdrop of the Covid-19 pandemic when our prompt and effective responses protected our businesses from the worst of the virus and provided a further opportunity for us to demonstrate our commitment to partnerships,” Bristow said.

Barrick spent more than $30 million on Covid-related community support measures in 2020 and prepaid more than $300 million in taxes and royalties. It also supported communities through a number of initiatives ranging from medical supply donations to local hospitals, loans to small businesses, setting up food banks and delivering food packages.


Investor and Media Relations
Kathy du Plessis
+44 20 7557 7738
Email: [email protected]


Cautionary Statement on Forward-Looking Information

Certain information contained or incorporated by reference in this press release, including any information as to our strategy, plans, or future operating performance, constitutes “forward-looking statements”. All statements, other than statements of historical fact, are forward-looking statements. The words “leading”, “transform”, “leverage”, “contribute”, “further”, “opportunity”, “commit”, “support” and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to the amount of Barrick’s economic contributions and commitment to socio-economic development in the countries and communities in which it operates through the hiring of local nationals, the payment of taxes, royalties and dividends and payments to local suppliers; and Barrick’s response to the Covid-19 pandemic and related community support initiatives.  Forward-looking statements are necessarily based upon a number of assumptions, including material assumptions considered reasonable by Barrick as at the date of this press release in light of management’s experience and perception of current conditions and expected developments, and are inherently subject to significant business, economic, and competitive uncertainties and contingencies.

Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned not to put undue reliance on forward-looking statements which are not guarantees of future events, and speak only as of the date made. Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities regulatory authorities for a more detailed discussion of some of the factors underlying forward-looking statements, and the risks that may affect Barrick’s ability to achieve the expectations set forth in the forward-looking statements contained in this press release. All of the forward-looking statements made in this press release are qualified by these cautionary statements. Barrick disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.

Author: Author

Continue Reading

Today’s News

Great Atlantic Resources Closes First Tranche of Financing $1,280,500

VANCOUVER, BC / ACCESSWIRE / November 30, 2021 / GREAT ATLANTIC RESOURCES CORP. (TSXV:GR) (the "Company" or "Great Atlantic") is pleased to announce that…

VANCOUVER, BC / ACCESSWIRE / November 30, 2021 / GREAT ATLANTIC RESOURCES CORP. (TSXV:GR) (the “Company” or “Great Atlantic”) is pleased to announce that it has closed the first tranche of a non-brokered private placement originally announced on November 17, 2021, consisting of 3,201,250 flow-through shares at a price of $0.40 per share for gross proceeds of $1,280,500. Each Flow-Through unit 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 share purchase warrant. Each whole warrant will entitle the holder to purchase one additional non-flow common share at the price of $0.75 for 36 months after closing. The net proceeds from the Offering will be used for exploration expenses on the Company’s mineral properties in Atlantic Canada.

The Company paid a cash commission of $70,000 and issued 175,000 finders warrants to Qwest Investment Fund Management Ltd. The finder warrants are valid for 3 years from closing with an exercise price of $0.40. The Company also paid a cash commission of $2,800 and issued 7,000 finder warrants to Haywood Securities Inc. and paid a cash commission of $7,385 and issued 18,463 finder warrants to Arthur Perna. These finder warrants are valid for 3 years from closing with an exercise price of $0.75

All securities issued in connection with the flow through Offering will be subject to a hold period expiring March 25, 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”

Mr. Christopher R. Anderson
“Always be positive, strive for solutions, and never give up”
President CEO Director

Investor Relations:

Andrew Job
[email protected]
Office Line 604-488-3900

About Great Atlantic Resources Corp.: Great Atlantic Resources Corp. is a Canadian exploration company focused on the discovery and development of mineral assets in the resource-rich and sovereign risk-free realm of Atlantic Canada, one of the number one mining regions of the world. Great Atlantic is currently surging forward building the company utilizing a Project Generation model, with a special focus on the most critical elements on the planet that are prominent in Atlantic Canada, Antimony, Tungsten and Gold.

This press release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.

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.

Great Atlantic Resource Corp
888 Dunsmuir Street – Suite 888, Vancouver, B.C., V6C 3K4

SOURCE: Great Atlantic Resources Corp.

View source version on

Continue Reading

Today’s News

Eric Sprott Announces Voting Support Agreement for Hochschild Mining PLC’s Proposed Acquisition of Amarillo Gold Corporation

Toronto, Ontario–(Newsfile Corp. – November 30, 2021) – Further to the press release of Amarillo Gold Corporation (Amarillo) dated November 29, 2021,…

Toronto, Ontario–(Newsfile Corp. – November 30, 2021) – Further to the press release of Amarillo Gold Corporation (Amarillo) dated November 29, 2021, Eric Sprott announces that 2176423 Ontario Ltd., a company which Mr. Sprott beneficially owns, has entered into a voting support agreement with Hochschild Mining PLC (Hochschild) in connection with Hochschild’s proposed acquisition of all of the issued and outstanding common shares of Amarillo (Amarillo Shares) by way of a statutory plan of arrangement (Arrangement) under the Business Corporations Act (British Columbia). 

2176423 Ontario holds 68,300,000 Amarillo Shares representing approximately 17.7% of the outstanding Amarillo Shares.

Mr. Sprott intends to hold the Amarillo Shares through 2176423 Ontario for investment purposes and to support the Arrangement, and, depending on market or other conditions, may acquire additional securities of Amarillo. If the Arrangement does not close or the voting support agreement is terminated, Mr. Sprott may acquire additional securities of Amarillo including on the open market or through private acquisitions or sell the securities including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.

Amarillo is located at 82 Richmond Street East, Suite 201, Toronto, Ontario M5C 1P1. A copy of 2176423 Ontario’s early warning report will appear on Amarillo’s profile on SEDAR at and may also be obtained by contacting Mr. Sprott’s office at (416) 945-3294 (200 Bay Street, Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ontario M5J 2J1).

To view the source version of this press release, please visit

amarillo gold corporation

Author: Author

Continue Reading