Callinex MinesInc. said April 26 that its recentlyannounced nonbrokered private placement has been upgraded and is nowintended to raise up to about C$2.8 million from the initially targeted maximumproceeds of C$1.0 million.
The financing originally comprised the issuance of up to 2.5million flow-through shares and 833,333 non-flow through units — with both sharesand units at 30 Canadian cents each — but is now increased to up to 5,833,333 flow-throughshares and up to 3,333,333 non-flow through units at the same price.
The units will carry the same terms set out in the previous announcement.
Callinex Mines plans to use the proceedsto facilitate exploration and for general working capital.