In the tranche which closed on February 10, Alumina received 470,588 units of Ximen consisting of company shares priced at C$0.31875 and a 36-month warrant exercisable at C$0.53125 each.
The facility provides Ximen with up to C$8 million over 24 months to fund exploration and continuing acquisition of gold assets in British Columbia.
It gives Ximen relatively quick access to private placement financing as and when required, through tranches of up to C$500,000 each.
Also in today's statement, Ximen revealed that the TSX venture exchange had approved the issue of 771,428 shares at a deemed price of C$0.35 each to settle a debt of C$270,000 owed to certain creditors of Ximen.
The hold period expiry date for the shares is June 8, 2020.
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