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    CBG   CA1671012039

CHIBOUGAMAU INDEPENDENT MINES INC.

(CBG)
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SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Chibougamau Independent Mines : Mines Office Notice and Going Forward

03/24/2020 | 03:27pm EDT

ROUYN-NORANDA, Québec, March 24, 2020 (GLOBE NEWSWIRE) -- Chibougamau Independent Mines Inc. (CBG-TSX-V in Canada, CLL1-Frankfurt, Stuttgart and Lang & Schwarz Stock Exchanges in Germany, CMAUF-OTC in the US), herein called Chibougamau, wishes to inform shareholders that as of 16:30 today, our offices located at Rouyn-Noranda, Quebec will close for a minimum of three weeks due to the ongoing Corona Virus crisis.  Employees will work from home and we expect, in large part, to function as usual. Chibougamau is doing this in an abundance of caution to protect our most valuable asset, our staff, none of whom are ill nor display any symptoms.  Calls to our office will be forwarded to reception and responded to as quickly as possible. 

We also wish to update Chibougamau’s shareholders regarding its ability to withstand the current crisis and going forward.  Chibougamau has just completed its latest successful drill program.  We are looking at the next steps in exploration particularly on the C-3 copper/gold zone.  Chibougamau has sufficient funds on hand to maintain the company and all its properties going forward. 

Should we decide to undertake a major drill program, Chibougamau would need to return to the market for funding.  A number of shareholders have indicated that, should the company require additional funding to pursue drill programs, they would be pleased to participate. 

Keep Safe!

This press release was written by Jack Stoch, P. Geo., President and CEO of Chibougamau Independent Mines Inc. in his capacity as a Qualified Person (Q.P.) under NI 43-101.

Neither the 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 the release.


We Seek Safe Harbour. 
CUSIP Number 167101 203
LEI 529900GYUP9EBEF7U709

For further information, contact:
Jack Stoch, P.Geo., Acc.Dir.
President & CEO
Chibougamau Independent Mines Inc.
86, 14th Street
Rouyn-Noranda, Quebec Canada  J9X 2J1
Tel.:  819.797.5242
Fax:  819.797.1470
 info@chibougamaumines.com
www.chibougamaumines.com

46,695,042 shares issued and outstanding

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Source: Chibougamau Independent Mines Inc.

2020 GlobeNewswire, Inc., source Press Releases

Stocks mentioned in the article
ChangeLast1st jan.
CHIBOUGAMAU INDEPENDENT MINES INC. 0.00% 0.23 Delayed Quote.39.39%
GLOBEX MINING ENTERPRISES INC. 0.00% 0.96 Delayed Quote.39.13%
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Financials
Sales 2020 - - -
Net income 2020 -0,25 M -0,20 M -0,20 M
Net cash 2020 1,19 M 0,94 M 0,94 M
P/E ratio 2020 -30,7x
Yield 2020 -
Capitalization 12,3 M 9,71 M 9,73 M
EV / Sales 2019 -
EV / Sales 2020 -
Nbr of Employees -
Free-Float 72,5%
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Managers and Directors
Jack Stoch President, Chief Executive Officer & Director
Marie-JosÚe Audet Chief Financial Officer
Rimant V. Zalnieriunas Independent Director
Samuel R. Bosum Independent Director
David J. Leclaire Independent Director
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