Callinex Mines Secures $2.1M in Oversubscribed Financing

Callinex Mines (TSE:CNX) has released an update.

Callinex Mines Inc. has successfully completed an oversubscribed private placement financing, raising $2.1 million which exceeded the initial target by $594,409. The raised funds will be allocated to Canadian exploration expenses for the Pine Bay Project in Manitoba and to general corporate purposes, with securities issued under this placement being restricted from resale for four months and a day.

For further insights into TSE:CNX stock, check out TipRanks’ Stock Analysis page.