Edmonton, July 14, 2020 – Camino Minerals Corp. (TSXV: COR) (OTCQB: CAMZF) (WKN: A116E1) (“Camino” or the “Company”) is pleased to announce that it has closed its previously announced private placement offering (the “Offering”) of 30,000,000 units (the “Units”) at an offering price of $0.10 per Unit (see the Company’s press release dated June 19, 2020), to raise gross proceeds of $3,000,000.
Each Unit consists of one (1) common share of the Company, and one-half (1/2) share purchase warrant (the “Warrants”) to acquire one additional common share at an exercise price of $0.15 per share until July 14, 2022. Certain arm’s length finders received cash fees of $24,850 in connection with the Offering.
The net proceeds of the Offering will be used to advance the Company’s exploration and development strategy at its Los Chapitos Copper-Gold project in Peru, as well as to provide the Company with working capital for general and administrative expenses.
All securities issued will be subject to resale restrictions until November 14, 2020.
About Camino Minerals Corporation
Camino is a discovery and development stage copper exploration company. The Company is focused on advancing its high-grade, Peru based, Chapitos copper project towards potential resource delineation and new discoveries. The Company seeks to acquire a portfolio of advanced copper assets that have the potential to deliver copper into an electrifying copper intensive global economy. For more information, please refer to Camino’s website at www.caminominerals.com.
| ON BEHALF OF THE BOARD | For further information, please contact: |
| /S/ “Jay Chmelauskas” | Camino Investor Relations |
| President and CEO | info@caminominerals.com |
| Tel: (604) 608-4513 |
Cautionary Note Regarding Forward Looking Statements: Certain disclosures in this release constitute forward-looking information. In making the forward-looking disclosures in this release, the Company has applied certain factors and assumptions that are based on the Company’s current beliefs as well as assumptions made by and information currently available to the Company. Forward-looking information in the release includes completion of the Private Placement and appointments, the prospectivity of the project for future exploration, development and production on the Chapitos copper project and that actual results of exploration activities are consistent with management’s expectations. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking information in this release is subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking information. Such risk factors include, among others, that actual results of the Company’s exploration activities will be different than those expected by management, that the Company will be unable to obtain or will experience delays in obtaining any required approvals and the state of equity and commodity markets. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Neither 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 this release.
