Clarmin Explorations Inc. Completes Initial Public Offering

VANCOUVER, British Columbia, Jan. 10, 2018 (GLOBE NEWSWIRE) -- Clarmin Explorations Inc. ("Clarmin") (TSXV:CX) is pleased to announce that, on January 8, 2018, it successfully completed its initial public offering (the "IPO") of 3,500,000 common shares (the "Shares") of Clarmin at a price of $0.10 per Share for total gross proceeds of $350,000 (the "Proceeds"). 

Pursuant to the agency agreement dated December 11, 2017, Haywood Securities Inc. acted as agent (the "Agent") for the IPO. Clarmin paid to the Agent a cash commission equal to 8% of the Proceeds and granted the Agent non-transferable options entitling the Agent to purchase a total of 280,000 Shares at a price of $0.10 per Share until January 8, 2020. In connection with the IPO, the Agent also received a corporate finance fee.

Clarmin's common shares were listed on the TSX Venture Exchange ("TSXV") effective January 8, 2018 and halted pending completion of the IPO.  Clarmin anticipates that its common shares will resume trading on the TSXV on January 10, 2018 under the symbol "CX".

About Clarmin

Clarmin is engaged in the acquisition and exploration of its mineral property located in British Columbia, Canada. Clarmin currently has an option to acquire a one hundred percent (100%) undivided interest in the Arlington Property, which is situated approximately 67 kilometres south of Kelowna, British Columbia.

The Proceeds will be used by Clarmin to fund its exploration program on the Arlington Property and for general working capital purposes.

Forward Looking Information

Information set forth in this press release contains forward-looking statements relating to the use of proceeds, are made as of January 10, 2018 and are based on assumptions as of that date. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. Clarmin cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Clarmin's control. Such factors include, among other things: risks and uncertainties relating to exploration and development; the ability of Clarmin to obtain additional financing; Clarmin's limited operating history; the need to comply with environmental and governmental regulations; potential defects in title to Clarmin's properties, fluctuations in currency exchange rates; fluctuations in the prices of commodities; operating hazards and risks; competition and other risks and uncertainties, including those described in Clarmin's Prospectus dated December 11, 2017 filed with the Canadian Securities Administrators and available on www.sedar.com.  Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Clarmin undertakes no obligation to publicly update or revise forward-looking information.

On behalf of the Board of Directors

Mark Lawson
Director

For more information please contact:

Clarmin Explorations Inc.
Mark Lawson
T: +1 647 302 0393
Email: [email protected]

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.