|By Marketwired .||
|November 29, 2012 06:45 PM EST||
CALGARY, ALBERTA -- (Marketwire) -- 11/29/12 -- Jan Alston, President of CMX Gold & Silver Corp. (the "Company") announces that the Company has filed amended June 30, 2012 interim financial statements (the "Amended Statements"). The original filed financial statements for the six month period ended June 30, 2012 did not state that the Company's auditor had not reviewed the financial statements. Also, the original financial statements contained an error in the loss per share in the 2011 comparatives, which was the result of using an incorrect number for the weighted shares for the prior year. The 2011 comparative basic and diluted net loss per share has been corrected to $0.018 (from $0.024) and $0.026 (from $0.031) for the three and six month periods, respectively, ending June 30, 2011. This error had no effect on the interim financial statements for the current year. The Amended Statements Subsequent Events Note 16 was updated to disclose private placements completed October 9, 2012, the anticipated filing of a preliminary prospectus for an initial public offering (which was filed November 2, 2012), and the extension of the expiry dates of certain warrants currently outstanding. A Restatement Note 17 was added to the Amended Statements describing a revision to the June 30, 2011 interim financial statements. This revision, which was filed in the prior year, was the result of a change in the interpretation of IFRS rules relating to certain warrants issued by the Company that are exercisable in U.S. dollars. This revision had no impact on the interim financial statements for the current year.
The Company closed private placements of units for aggregate proceeds of $252,750. 750,000 units were sold at $0.10 per unit, each comprised of one common share and one warrant exercisable for two years at $0.20 per share. 1,185,000 units were sold at $0.15 per unit, each comprised of one common share and one warrant exercisable for two years at $0.25 per share. An aggregate of $162,250 of the units were purchased by officers and directors of the Company and their associates, and $15,000 by a consultant to the Company.
The Company has extended the expiry date of 2,500,000 warrants exercisable into common shares at a price of $0.25 to May 28, 2014 and the expiry date of 10,231,740 warrants exercisable into common shares at a price of $0.15 to June 30, 2013.
CMX Gold & Silver Corp.
President & C.E.O.
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