Owner
Post by Franko10 ™ on Mar 2, 2005 8:09:13 GMT -5
March 27, 2002
PRIVATE PLACEMENT WITH JIPANGU COMPLETED
The Board of Directors of J-Pacific Gold Inc. (the “Company”) is pleased to announce that the non-brokered private placement with Jipangu Inc. of Tokyo, Japan, as reported in the news release of March 11, 2002 has closed. A total of 670,000 Units of the Company were issued at a price of $0.35 per Unit for total proceeds of $234,500. Each Unit consists of one common share and one warrant, with each warrant exercisable to purchase a further common share of the Company at a price of $0.50 per share until March 27, 2004. Net proceeds from the private placement have been applied to working capital.
Jipangu Inc. has purchased all of the above shares, which, together with the shares issuable upon exercise of the warrants, represent ownership, and control of 4.38% of the currently issued and outstanding common shares of the Company. The issuance of such shares will result in Jipangu Inc. currently owning or exercising control over 12,474,555 common shares of the Company representing 40.73% of the issued and outstanding common shares of the Company.
The shares, warrants and any shares issued upon exercise of the warrants are subject to a hold period and may not be traded in British Columbia until March 28, 2003 except as permitted by the Securities Act and the Rules made thereunder and the Canadian Venture Exchange.
On behalf of J-Pacific Gold Inc.
On behalf of Jipangu Inc.
“N. Ferris”<br> “D. Mosher”<br>
President and CEO
Director
The Canadian Venture Exchange has neither approved nor disapproved the information contained herein.
For further information, please contact Mr. Nick Ferris -Telephone 1-888-236-5200.
PRIVATE PLACEMENT WITH JIPANGU COMPLETED
The Board of Directors of J-Pacific Gold Inc. (the “Company”) is pleased to announce that the non-brokered private placement with Jipangu Inc. of Tokyo, Japan, as reported in the news release of March 11, 2002 has closed. A total of 670,000 Units of the Company were issued at a price of $0.35 per Unit for total proceeds of $234,500. Each Unit consists of one common share and one warrant, with each warrant exercisable to purchase a further common share of the Company at a price of $0.50 per share until March 27, 2004. Net proceeds from the private placement have been applied to working capital.
Jipangu Inc. has purchased all of the above shares, which, together with the shares issuable upon exercise of the warrants, represent ownership, and control of 4.38% of the currently issued and outstanding common shares of the Company. The issuance of such shares will result in Jipangu Inc. currently owning or exercising control over 12,474,555 common shares of the Company representing 40.73% of the issued and outstanding common shares of the Company.
The shares, warrants and any shares issued upon exercise of the warrants are subject to a hold period and may not be traded in British Columbia until March 28, 2003 except as permitted by the Securities Act and the Rules made thereunder and the Canadian Venture Exchange.
On behalf of J-Pacific Gold Inc.
On behalf of Jipangu Inc.
“N. Ferris”<br> “D. Mosher”<br>
President and CEO
Director
The Canadian Venture Exchange has neither approved nor disapproved the information contained herein.
For further information, please contact Mr. Nick Ferris -Telephone 1-888-236-5200.
