VANCOUVER, BRITISH COLUMBIA — (Marketwired) — 11/15/13 — Colombian Mines Corporation (TSX VENTURE: CMJ)(FRANKFURT: X6C) („Colombian Mines“ or the „Company“) is pleased to announce that it has completed an oversubscribed first tranche of the private placement by issuing 3,383,333 Units at $0.30 per Unit for total gross proceeds of $1,015,000. Each Unit consists of one common share and one share purchase warrant (the „Warrants“), exercisable to acquire an additional common share at $0.45 per share for a five year period. The shares, and any shares issued on exercise of the Warrants, are subject to a hold period expiring March 15, 2014. Finder-s fees equal to six (6) per cent were paid on a portion of the proceeds.
The Company expects to close a second tranche of this financing shortly.
Net proceeds will be used to expand upon the highly successful Phase I drilling program at the Company-s high grade El Dovio gold – polymetallic project and to advance the high grade Mercedes gold – silver project to a „drill ready“ status and for general working capital.
About Colombian Mines Corporation: Colombian Mines is an aggressive junior exploration and development stage company with a distinct „first mover“ advantage in Colombia and one of the largest portfolios of 100% direct owned mineral assets among comparable companies in Colombia. Focused on developing shareholder value through exploration and development of key projects, the Company is also one of Colombia-s leading „prospect generators“ and applies an aggressive business model of organic growth through exploration while leveraging shareholder value through strategic alliances and joint ventures. Colombia is widely recognized as a highly prospective, under-explored country with exceptional mineral potential. Further information can be found on our website at .
Robert G. Carrington, President & CEO
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statement
Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Colombian Mines Corporation. Actual results may differ materially from those currently anticipated in such statements.
Contacts: Colombian Mines Corporation Sharon Hebgin Corporate Communications (604) 649-9195 – Canada (760) 668-7211 – United States
Colombian Mines Corporation Dave Cross Chief Financial Officer and Corporate Secretary (604) 558-4300
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