Castle Mountain Mining (CMM-V) April 17, '15 is pleased to announce that it has completed its non-brokered offering of 5,714,402 units at $0.35 per Unit for aggregate gross proceeds of $2,000,040.70. Each Unit consists of one common share of Castle Mountain and one half of one Common Share purchase warrant. Each Warrant entitles the holder thereof to acquire one additional Common Share of Castle Mountain at an exercise price of $0.60 per Common Share until April 17, 2017.
As part of the Offering, the recently announced new management team and board members subscribed for an aggregate of 2,571,431 Units. The securities issued pursuant to the Offering are subject to a hold period expiring on August 18, 2015. The proceeds from the Offering will be used to fund ongoing activities and for working capital purposes. The Offering remains subject to the final approval of the TSX Venture Exchange.
About Castle Mountain
Subject to certain obligations, Castle Mountain has 100% of the right, title and beneficial interest in and to the Castle Mountain Venture, a California general partnership, which owns the Castle Mountain property in San Bernardino County, California, (7,458 acres in total). The Castle Mountain heap leach gold mine produced over one million ounces of gold from 1992 to 2001, when mining was suspended due to low gold prices.
A National Instrument 43-101 Technical Report for the initial mineral resource estimate prepared by RPA Inc. was filed on December 11, 2013. On June 5, 2014, the Technical Report for its Preliminary Economic Assessment, prepared by RPA Inc., was filed. Both documents are available on SEDAR at www.sedar.com and on the Company's website at www.castlemountainmining.com.
Castle Mountain Mining Company Limited
Bill Cavalluzzo
416-704-8795
bcavalluzzo@rogers.com
www.castlemountainmining.com |
