CMX Gold & Silver Corp. Reports Exercise of Warrants and Conversion of Debentures, Bolstering Funding for Clayton Silver Mine Development

CMX Gold & Silver Corp. (CSE: CXC) (OTC: CXXMF) has announced that a total of 3,320,000 warrants were exercised for the purchase of 3,320,000 common shares at $0.10 per share. Additionally, debentures aggregating $190,000 of principal were converted into 1,520,000 shares at a conversion price of $0.125 per share, according to a recent article discussing the company’s progress.

The moves signal strong backing from management, directors, and supporting shareholders for CMX’s plan to advance the Clayton Silver project. Jan Alston, President and CEO of CMX, stated: ‘The exercise of warrants and conversion of debentures demonstrates the confidence of management, directors, and supporting shareholders in CMX’s plan to advance the Clayton Silver project.’ Alston added, ‘This kind of support over the past decade has positioned the company to capitalize on the current precious metals bull market, which in our opinion is still in its early stages.’

The Clayton Silver Property, located in the mining-friendly state of Idaho, is 100% owned by CMX. The property encompasses approximately 684 acres in Custer County, south-central Idaho, including the former Clayton silver-lead-zinc mine. The mine was developed on eight levels to a depth of 1,100 feet below surface and comprises approximately 19,690 feet of underground development. Two major ore bodies, the ‘South Ore Body’ and the ‘North Ore Body,’ were partially mined.

The exercise of warrants and conversion of debentures provide additional funding as the company seeks to capitalize on the precious metals market, which Alston believes is still in its early stages. The full article discussing these developments is available at https://ibn.fm/9RZx1.

For latest news and updates relating to CXXMF, visit the company’s newsroom at https://ibn.fm/CXXMF.

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