Callinex trades higher after Rick Rule invests $5M

News Markets Intelligence Careers Education Buyers Guide News Markets Buyer's Guide Advertise RSS Newsletter The Northern Miner MINING.COM Canadian Mining Journal Sign In Join Profile Sign out Copper Gold Lithium Nickel Commodities Iron Ore Rare Earth Coal Uranium Cobalt Diamond Zinc Platinum Palladium Silver Potash Suppliers Equipment TOP 50 USA Canada Australia Regions Africa China Latin America Europe Asia TNM Maps TNM Marco Polo Michael Allan McCrae | October 25, 2016 | 4:04 am Base Metals Canada Copper Zinc Zinc junior Callinex Mines (CVE:CNX) is up 10% to 54 cents after Resources Funds Capital acquired 18% of the company for $5 million. “Callinex has signed a term sheet with Sprott for a $5m private placement. A fund managed by Rick Rule will be a lead order in the financing,” said Callinex Mine’s CEO Max Porterfield in a news release. Sign Up for the Copper Digest Sign Up The funds will be used for exploration at the newest discovery at the company’s Pine Bay Project and for general working capital. Callinex is focused on developing zinc and copper mines within Canadian VMS mining jurisdictions. Full news release is below. Callinex Announces $5M Private Placement with Affiliates of the Sprott Group NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE...

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