Callinex Mines has announced it intends to complete a non-brokered private placement to raise up to 3 million dollars. They anticipate that Resource Capital Funds will acquire the majority of the shares being issued and will become the largest single shareholder in Callinex.
Callinex President and CEO Max Porterfield says they are excited to welcome the leading mining focused private equity firm as a major shareholder of Callinex. He says Resource Capital Funds, which manages over 2.5 billion dollars in assets is a patient long term investor that actively partners with companies to build strong, successful and sustainable businesses.
Porterfield adds approximately two million dollars of these funds will help them advance their strategy to identify economically significant copper-zinc rich VMS deposits in the Flin Flon area