CMX Gold & Silver Corp. (CSE: CXC) (OTC: CXXMF) announced that a total of 3,320,000 warrants were exercised for the purchase of 3,320,000 common shares at $0.10 per share. Additionally, debentures aggregating $190,000 of principal were converted into 1,520,000 shares at a conversion price of $0.125 per share. The moves generated cash proceeds of $180,000 from warrant exercises, which will be applied to working capital, while $152,000 of debt was settled through share issuance.
The company, which is advancing the historic Clayton Silver Mine in Idaho, is positioning itself to capitalize on the current precious metals market. President and CEO Jan Alston noted that this milestone demonstrates the confidence of management, directors, and supporting shareholders in CMX’s plan to advance the Clayton Silver project. ‘The exercise of warrants and conversion of debentures demonstrates the confidence of management, directors, and supporting shareholders in CMX’s plan to advance the Clayton Silver project,’ Alston said. ‘This kind of support over the past decade has positioned the company for future growth.’
CMX is an exploration-stage company focused on the Clayton Silver Mine, a historic property with significant potential. The recent financial activities are expected to bolster the company’s balance sheet and provide necessary capital for exploration and development. As the precious metals market shows strength, particularly for silver, CMX is well-positioned to advance its project. The company’s ability to raise funds through warrant exercises and debt conversions indicates strong backing from its investor base.
For more information on CMX Gold & Silver Corp., including the latest news and updates, visit the company’s newsroom at https://ibn.fm/CXXMF. Details of the warrant and debenture transactions can be found at https://ibn.fm/C4Sni.
This announcement comes at a time when investor interest in precious metals is high, with silver prices showing resilience. CMX’s progress on the Clayton Silver Mine could attract further attention from investors looking for exposure to silver exploration. The company’s management remains focused on advancing the project and creating shareholder value.
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