if you read more then the subject. you will have found that the...

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Canmex closes $7.5-million first tranche


2007-04-03 20:51 ET - News Release

Mr. Rick Schmitt reports

CANMEX CLOSES FIRST TRANCHE OF CDN $20 MILLION PRIVATE PLACEMENT

Canmex Minerals Corp. has closed $7.5-million of the non-brokered private placement reported in Stockwatch on March 14, 2007. In total, the company agreed to sell up to a total of four million common shares of the company at a price of $5 per share, for gross proceeds of up to $20-million. The remaining $12.5-million is expected to close on April 5, 2006. A 5-per-cent finder's fee, subject to regulatory approval, will be payable on a portion of the private placement. The shares issued pursuant to the private placement are subject to a four-month hold period from the date of closing. Net proceeds of the private placement will be used toward the company's proposed work program on the Nogal and Dharoor oil exploration projects in Puntland, Somalia, as well as for general working capital purposes