2015-12-22 14:05 ET - News Release
Mr. Christopher Anderson reports
CORPORATE UPDATE
Ximen Mining Corp. has granted one million stock options at an exercise price of five cents. The options are exercisable for five years and will be cancelled 30 days after cessation of acting as director, officer, employee or consultant of the company.
The company has also amended its news release dated Dec. 21, 2015, in relation to the closing of the first tranche of the company's secured convertible debenture financing as follows.
The convertible debentures shall bear an interest rate of 10 per cent per year, calculated annually and not in advance. Interest shall be due and payable on the earlier of the maturity date and the date that the company may at its discretion redeem the convertible debentures and are not payable annually in units of the company at the unit price and warrant exercise price determined as at the date of announcement of settlement of the interest accrued to such announcement date. Any common shares issuable pursuant to the conversion of the convertible debentures into units or pursuant to the exercise of share purchase warrants comprising the units in part shall be subject to a statutory hold period expiring on April 22, 2015.
We seek Safe Harbor.
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