Owner
Post by Franko10 ™ on Mar 2, 2005 10:31:29 GMT -5
DECEMBER 8, 2004
J-PACIFIC ARRANGES FINANCING
J-Pacific Gold Inc. (“J-Pacific”) is pleased to announce that J-Pacific has concluded negotiations with the Cordilleran Fall 2004 Resources Limited Partnership for a private placement of 830,000 Units of J-Pacific at a price of $0.60 per Unit for total proceeds of $498,000, which will qualify as “flow-through Units” for purposes of the Income Tax Act (Canada). Each flow through Unit consists of one common share and a half warrant, where each whole warrant entitles the holder to purchase one additional common share of J-Pacific at a price of $0.80 per share for a period of 12 months after the closing of the private placement. J-Pacific will pay a fee of 7.5% to Canaccord Capital Corporation along with warrants exercisable for a total amount of 83,000 common shares of J-Pacific at an exercise price of $0.80 per common share for a period of 12 months after the closing of the private placement.
All securities issued will be subject to a four-month hold period. The flow-through proceeds will enable J-Pacific to explore its Elizabeth Project in British Columbia.
On behalf of the Board of Directors,
“N. Ferris”<br>President and CEO
The TSX Venture Exchange has neither approved nor disapproved the information contained herein.
For further information, please contact Investor Relations
Telephone 1-888-236-5200.
J-PACIFIC ARRANGES FINANCING
J-Pacific Gold Inc. (“J-Pacific”) is pleased to announce that J-Pacific has concluded negotiations with the Cordilleran Fall 2004 Resources Limited Partnership for a private placement of 830,000 Units of J-Pacific at a price of $0.60 per Unit for total proceeds of $498,000, which will qualify as “flow-through Units” for purposes of the Income Tax Act (Canada). Each flow through Unit consists of one common share and a half warrant, where each whole warrant entitles the holder to purchase one additional common share of J-Pacific at a price of $0.80 per share for a period of 12 months after the closing of the private placement. J-Pacific will pay a fee of 7.5% to Canaccord Capital Corporation along with warrants exercisable for a total amount of 83,000 common shares of J-Pacific at an exercise price of $0.80 per common share for a period of 12 months after the closing of the private placement.
All securities issued will be subject to a four-month hold period. The flow-through proceeds will enable J-Pacific to explore its Elizabeth Project in British Columbia.
On behalf of the Board of Directors,
“N. Ferris”<br>President and CEO
The TSX Venture Exchange has neither approved nor disapproved the information contained herein.
For further information, please contact Investor Relations
Telephone 1-888-236-5200.
