Brief: Chibougamau Independent Mines announces proposed share consolidation

Chibougamau Independent Mines

13/05/2016 14:01

May 13 (Reuters) - Chibougamau Independent Mines Inc 
    * Announces proposed share consolidation and $1 million 
non-brokered private placement 
    * To consolidate issued and outstanding common shares on 
basis of one share for every two shares issued and outstanding 
    * If share consolidation is approved, will have 16.2 million 
common shares, compared to 32.5 million shares currently 
outstanding 
    * Non-Brokered private by issuing maximum of 15 million 
units for $0.05/unit, 5 million "flow-through" shares for $0.05 
per share 
    * Brokered private placement 
 
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