CMX Gold & Silver Corp. (CSE: CXC) (OTC: CXXMF) announced that warrants and debentures have been exercised and converted, providing the company with additional capital to advance its Clayton Silver Mine project in Idaho. The company reported 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 exercise of warrants resulted in cash proceeds of $180,000, which will be applied to working capital. Furthermore, 1,520,000 shares were issued to settle $152,000 of debt.
Jan Alston, President and CEO of CMX, noted that these transactions demonstrate the confidence of management, directors, and supporting shareholders in the company's plan to advance the Clayton Silver project. Alston 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." He added that this kind of support over the past decade has positioned the company to capitalize on the current precious metals market.
CMX Gold & Silver Corp. is an exploration-stage company focused on the historic Clayton Silver Mine in Idaho. The company is listed on the Canadian Securities Exchange under the symbol CXC and on the OTC market under CXXMF. The recent financial moves are expected to strengthen the company's balance sheet and provide resources for further exploration and development of the silver project.
For more information, visit the company's newsroom at https://ibn.fm/CXXMF. This announcement comes as the precious metals market experiences increased investor interest, with silver prices showing positive momentum. The company's ability to secure financing through warrant exercises and debt conversions highlights the ongoing support from its investor base.
