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Canamex Resources Corp. Announces Closing of $2.52 Million Strategic Investment from Hecla Mining Company
Published : November 21, 2012
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Keywords :   Canada | Gold |

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 21, 2012) - Canamex Resources Corp. ("Canamex" or the "Company") (TSX VENTURE:CSQ)(OTCQX:CNMXF)(FRANKFURT:CX6) is pleased to announce further to its News Release dated November 19, 2012, that it has closed its equity financing pursuant to which Hecla Canada Ltd. ("Hecla"), a wholly-owned Canadian subsidiary of Hecla Mining Company, acquired 14,000,000 common shares of the Company at a price of $0.18 per share for total proceeds of $2,520,000 on a private placement basis (the "Financing").

On closing of the Financing, Hecla holds 14.8% of the Company's issued and outstanding common shares.

All of the securities issued under the Financing are subject to a statutory hold period which will expire on March 22, 2013 in accordance with applicable Canadian securities laws. However, Hecla has agreed that it will be restricted from selling any of its Canamex shares for a period of 12 months following closing of the Financing, except as may otherwise be approved by Canamex or in relation to any takeover bid made by a third party not acting in concert with Hecla.

At least 75% of the proceeds from the Financing will be used in connection with the exploration and development of the Company's Bruner property in Nevada, and no more than 25% may be used for general corporate purposes.

Hecla's investment in the Company is subject to various rights and restrictions as set forth in an Ancillary Rights Agreement between the Company and Hecla dated November 21, 2012, the principal terms of which are summarized in the Company's News Release dated November 19, 2012. A copy of the subscription agreement, which contains the Ancillary Rights Agreement, will be available under the Company's profile on the SEDAR website (www.sedar.com).

Further News Releases are expected to be issued in due course announcing the appointment of the Company's technical advisory committee and Hecla's nominee to the Company's board of directors, pursuant to the terms of the Ancillary Rights Agreement.

ON BEHALF OF THE BOARD

Robert Kramer, CEO and Director

FORWARD-LOOKING STATEMENTS:

This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements relating to the planned exploration on the Company's Bruner project, and other future plans, objectives or expectations of the Company are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include risks relating to: availability of capital and financing required to continue the Company's exploration programs; general economic, market or business conditions; the actual results of current and planned exploration activities; the geology, grade and continuity of any mineral deposits; fluctuating gold prices; risks associated with property option agreements, leases, joint ventures and the ability to conclude joint venture agreements on favourable terms; possibility of accidents, equipment breakdowns and delays during exploration; exploration cost overruns or unanticipated costs and expenses; regulatory changes and restrictions including in relation to environmental liability; timeliness of government or regulatory and stock exchange approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company 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 otherwise required by applicable securities legislation.

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 this release.

Canamex Resources Corp.
Robert Kramer
(604) 336-8621
www.canamex.us
or
Renmark Financial Communications Inc.
Erica Lomonaco
(514) 939-3989 or (416) 644-2020
elomonaco@renmarkfinancial.com
or
Renmark Financial Communications Inc.
Barbara Komorowski
(514) 939-3989 or (416) 644-2020
bkomorowski@renmarkfinancial.com
www.renmarkfinancial.com
Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All

Canamex Resources Corp.

EXPLORATION STAGE
CODE : CSQ.V
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Financings of Canamex Resources Corp.
12/27/2012Announces Closing of Financing with Hecla Canada Ltd.
12/18/2012Announces Further Financing from Hecla Mining Company to Mai...
9/18/2012Reduces Exercise Price of Warrants
4/29/2011Closes $262,500 Private Placement
4/8/2011Announces Negotiation of $262,500 Financing
4/4/2011Closes $750,000 Private Placement
Option Grants of Canamex Resources Corp.
2/14/2013Retains Two Investor Relations Consultants
3/10/2011Appoints New President and CEO, and Announces $750,000 Priva...
10/19/2010Grants 2.500.000 Stock Options at $ 0.10, Pursuant to 10% Ro...
Nominations of Canamex Resources Corp.
7/31/2013Welcomes Hecla Mining Company's Dr. Dean McDonald to Its Boa...
9/12/2012Announces Appointment of Officers Following AGM Held Septemb...
Project news of Canamex Resources Corp.
10/22/2010(Bruner Gold Deposit)Canamex Initiates Drilling at Bruner Gold/Silver Project, Ne...
7/28/2010(Bruner Gold Deposit)N 43-101 Technical report
Corporate news of Canamex Resources Corp.
10/25/2013Reports Positive Geophysical Survey Results at Bruner Gold P...
10/15/2013Reports Drilling Progress on the Bruner Gold Project, Nye Co...
8/21/2013Intersects 9.1 Meters of 7.2 G/Tonne Gold (30 Feet of 0.210 ...
8/15/2013Adds to Its Land Position at the Bruner Gold Project, Nye Co...
7/17/2013Intersects 21.3 Meters of 4.27 G/Tonne Gold (70 Feet of 0.12...
6/14/2013Adopts Advance Notice Policy
6/7/2013Announces Further Positive Drill Results and Plans to Test H...
4/23/2013Intersects 91 Meters of 3.1 G/Tonne Gold (300 Feet of 0.090 ...
3/19/2013Announces Positive Cyanide Leach Test Results From the Brune...
3/11/2013Announces Commencement of RC Drill Program at the Bruner Gol...
2/4/2013Conference Call Scheduled for Tuesday February 5, 2013 at 1:...
2/4/2013Shares Issued Pursuant to Aranka North Property Option Agree...
1/30/2013Announces 2012 Drilling Results and 2013 Exploration Plans f...
1/16/2013Announces Formation of Technical Advisory Committee
1/8/2013on Status of Projects
11/21/2012Announces Closing of $2.52 Million Strategic Investment from...
11/21/2012Announces Closing of $2.52 Million Strategic Investment from...
11/19/2012Announces $2,520,000 Strategic Investment From Hecla Mining ...
10/2/2012Intersects 172 feet (52.4 meters) Averaging 0.064 opt (2.21 ...
10/2/2012Intersects 172 feet (52.4 meters) Averaging 0.064 opt (2.21 ...
9/25/2012Grants Stock Options
9/18/2012Announces Appointment of Chief Geologist to Manage Drilling ...
9/10/2012Final Column Leach Results Return +85% Gold Extraction for t...
7/7/2011Announces Change of Directors and Stock Option Grant
7/6/2011and GMV Enter into Option Agreement on Large Prospective Gol...
5/24/2011Commences 2011 Exploration Program at Bruner Gold-Silver Pro...
2/22/2011Confirms Bruner Potential
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TSX-V (CSQ.V)
0.145+0.00%
TSX-V
CA$ 0.145
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