Continental Minerals Corp. (KMKCF.OB) Announces Private Placement to Raise $25 Million
Continental Minerals Corporation announced today that a private placement agreement was entered into with a wholly owned subsidiary Zijin Mining Group Co. In the agreement, Continental will sell 21,121,495 common shares of their company and receive $22,599,999.65 in gross proceeds with the balance of the Offering being subscribed by other non-related parties. A commission equal to 6% of the proceeds from the Offering is payable. One of the key details to the agreement is that Zijin will provide support to the Xietongmen Project and will also be entitled to appoint one director to the Continental Board. The proceeds of the…