|By Marketwired .||
|June 25, 2014 12:09 PM EDT||
ROUYN-NORANDA, QUEBEC -- (Marketwired) -- 06/25/14 -- Chibougamau Independent Mines Inc.("Chibougamau Mines") (TSX VENTURE: CBG)(STUT: CLL) wishes to advise shareholders that it has approval for a private placement of 2,500,000 common shares at $0.08 per share, each common share having attached one half warrant. Two warrants and $0.16 permits the purchase of one common share for a period of 12 months.
In addition, 4,000,000 Quebec Flow Through shares are approved for issuance at a price of $0.10 per flow through share.
Proceeds from the placement will total $600,000. Funds will be used to drill previously defined copper gold targets, stripping to test the potential extension to surface of a zone of copper gold mineralization and to trench and assay, on a systematic basis, areas of massive iron, titanium and vanadium mineralization at our historical Mont Sorcier deposit east of Chibougamau.
Chibougamau Independent is one of the largest property holders in the Chibougamau Mining Camp. Assets include a first class, 9,326 hectares exploration package including numerous former copper gold mines.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the release.
32,477,248 shares issued and outstanding
We Seek Safe Harbour. CUSIP Number 167101 10 4