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Post by Franko10 ™ on Oct 5, 2005 18:30:33 GMT -5
J-Pacific Arranges Financing (ccnm) VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 5, 2005) - J-Pacific Gold Inc. (the "Company") (TSX VENTURE:JPN)(OTCBB:JPNJF) is pleased to announce a private placement of 997,500 Units of the Company at a price of $0.35 per Unit for total proceeds of $349,125. Each Unit consists of one common share and one warrant, each warrant entitling the holder to purchase one additional common share of the Company at a price of $0.55 per share for a period of 24 months after the closing of the private placement. As a finder's fee, J-Pacific will issue warrants exercisable for a total amount of 85,800 common shares of J-Pacific at an exercise price of $0.55 per common share for a period of 24 months after the closing of the private placement. All securities issued will be subject to a four-month hold period. Proceeds from the financing will be applied to working capital. The private placement is pursuant to a price reservation filed September 28, 2005 and subject to regulatory approval. On behalf of the Board of Directors, N. Ferris, President and CEO FOR FURTHER INFORMATION PLEASE CONTACT: J-Pacific Gold Inc. N. Ferris President and CEO (604) 684-6677 (604) 684-6678 (FAX) ir@jpgold.com www.jpgold.comThe TSX Venture Exchange has neither approved nor disapproved the information contained herein.
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