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  • Candelaria Mining Corp. (CAND) has extended the closing of the previously announced private placement
  • Echelon Wealth Partners Inc. has agreed to sell, on a “best efforts” private placement basis, up to $25,000,000 of units
  • Proceeds will fund construction at the Pinos Gold Mine, exploration at the Caballo Blanco District and the Pinos Gold Project
  • Candelaria Mining is a gold exploration company with two 100 per cent-owned projects in Mexico
  • Candelaria Mining Corp. (CAND) is unchanged, trading at C$0.51 per share at 4:25 pm ET

Candelaria Mining Corp. (CAND) has extended the closing of the private placement that was previously announced on April 14, 2021.

The company has entered into an agreement with Echelon Wealth Partners Inc. as sole agent and bookrunner, pursuant to which Echelon has agreed to sell, on a “best efforts” private placement basis, up to $25,000,000 of units at a price of $0.45 per unit.

Each unit will consist of one common share and one share purchase warrant. Each purchase warrant entitles the holder to purchase one common share for $0.65 for a period of 24 months following the closing of the offering.

Candelaria has granted Echelon an option to increase the size of the offering by up to 15%, exercisable until 48 hours prior to the closing of the offering.

Proceeds from the offering will be used to fund construction at the company’s Pinos Gold Mine, exploration activities at the Caballo Blanco District and the Pinos Gold Project, and for general corporate purposes.

The offering is scheduled to close on or about June 14, 2021. The offering is subject to all necessary regulatory and other approvals, including the approval of the TSX Venture Exchange.

Candelaria Mining is a gold exploration company with two 100 percent-owned projects in Mexico.

Candelaria Mining Corp. (CAND) is unchanged, trading at C$0.51 per share at 4:25 pm ET.

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