Nelson, British Columbia – Ximen Mining Corp. (TSXV: XIM, OTC: XXMMF, FSE: 1XM) has moved to secure a short-term financing solution that will keep its Kenville Gold Mine active while the company continues to negotiate larger, non-dilutive capital for portal and decline development. The financing, described as a bridge private placement, is slated to close on September 25th and is expected to provide up to $350,000 to cover operational expenses for the next thirty days.
Chief Executive Christopher R. Anderson emphasized the strategic intent behind the raise, stating, “Our priority is to build Kenville without giving away the upside our shareholders have waited for,” and noting that the site is already equipped with power, machinery, and a small crew ready to advance as soon as funding is secured.
Bridge private placement to bridge the funding gap
The bridge transaction is a non-brokered private placement of up to 4,375,000 units priced at $0.08 per unit. Each unit pairs one common share with a share purchase warrant that allows the holder to acquire an additional share at an exercise price of $0.12 for a period of 18 months from issuance. These units are classified as hard-dollar units and do not carry flow-through tax status.
Proceeds are earmarked to sustain day-to-day activities at Kenville, effectively acting as bridge capital while the company finalises a larger financing package for the portal and decline construction. The offering is subject to acceptance by the TSX Venture Exchange and will be subject to a statutory hold period of four months and one day under Canadian securities law. No finder’s fees will be paid, and insiders may participate on the same terms as arm-length investors.
In addition to the cash component, the warrants provide potential upside for investors, aligning their interests with the long-term success of the project. The structure of the placement reflects Ximen’s aim to raise the necessary short-term capital without diluting existing shareholders more than absolutely necessary.
Pursuing non-dilutive financing and site readiness
Beyond the bridge raise, Ximen is actively engaged in discussions with multiple parties to obtain non-dilutive financing for the portal and decline development. Non-dilutive financing, as defined by the company, is capital that does not require the issuance of additional equity, thereby preserving shareholder value. Although no definitive agreement has yet been signed, the firm expects to reach a binding arrangement within the next 30 days contingent upon satisfactory terms and regulatory approvals.
The Kenville property is already primed for construction. All major equipment has been delivered, power infrastructure is connected, and a small crew is maintaining site operations. Management assesses that, aside from the capital needed to execute the portal works, no significant incremental expenditures are required, provided that remaining pre-conditions—such as engineering reports, flood-retention pond works, and permitting—are satisfied. The company targets the commencement of portal construction toward the end of October 2026 assuming financing and permitting remain on schedule.
Contractor negotiations are also underway, with Ximen reviewing potential partners to undertake the portal build. Updates on contractor selection will be shared once agreements are finalised. The combined effort of the bridge placement and the pursuit of non-dilutive capital aims to keep the Kenville project on its development trajectory without compromising the upside for existing shareholders.
