CMX Gold & Silver Corp. (CSE: CXC) (OTC: CXXMF) announced that a total of 3,320,000 warrants were exercised for the purchase of 3,320,000 common shares at $0.10 per share. Additionally, debentures aggregating $190,000 of principal were converted into 1,520,000 shares at a conversion price of $0.125 per share. The transactions resulted in 1,520,000 shares issued through debt settlement of $152,000, and cash proceeds of $180,000 from warrant exercises were allocated to working capital.
Jan Alston, President and CEO of CMX, stated, “The exercise of warrants and conversion of debentures demonstrates the confidence of management, directors, and supporting shareholders in CMX’s plan to advance the Clayton Silver project.” The company is an exploration-stage entity focused on advancing the historic Clayton Silver Mine in Idaho, a region with significant historical silver production.
The capital infusion positions CMX to capitalize on the current precious metals market, which has seen increased investor interest amid economic uncertainty. The funds will support ongoing exploration and development activities at the Clayton Silver project, potentially unlocking value from the property’s historical resources. The company’s ability to secure additional financing through warrant exercises and debenture conversions reflects sustained stakeholder support over the past decade.
For more information on CMX Gold & Silver Corp., visit the company’s newsroom at https://ibn.fm/CXXMF. Details of the warrant and debenture transactions are available in the company’s press release at https://ibn.fm/C4Sni.
