Information posted is accurate at the time of posting, but may be superseded by subsequent press releases.
Aug 17, 2005
Canmex Minerals Corporation: Private Placement
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 17, 2005) - Canmex Minerals Corporation (TSX VENTURE:CXM) (the "Company") reports that it has agreed to sell on a non-brokered, private placement basis up to an aggregate of 4 million units of the Company at a price of Cdn $0.80 per unit for gross proceeds of Cdn $3.2 million. Each unit shall consist of one common share and one share purchase warrant. Each warrant will be exercisable into one common share over a period of one year at a price of Cdn $1.00 per share. However, in the event the closing price of the Company's shares is Cdn $2.00 for 10 consecutive trading days following the expiry of the initial 4 month hold period, then the warrants shall expire 10 trading days from such event. The net proceeds of the private placement will be used for general working capital purposes.
The foregoing private placement is subject to regulatory approval.
ON BEHALF OF THE BOARD
Lukas H. Lundin, President
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Canmex Minerals Corporation
(604) 689-4250 (FAX)