Owner
Post by Franko10 ™ on Mar 2, 2005 8:23:04 GMT -5
AUGUST 29, 2002
J-PACIFIC ARRANGES FINANCINGS
The Board of Directors of J-Pacific Gold Inc. (the “Company”) is pleased to announce that the Company has entered into a $200,000 private placement agreement with CMP 2002 Resource Limited Partnership to acquire 666,667 common shares of the Company, which qualify as “flow-through shares” for purposes of the Income Tax Act (Canada), at a subscription price of $0.30 per flow-through share. The Company will pay a commission of 5% of the gross proceeds of the offering to Dundee Securities Corporation and along with a warrant exercisable for 66,667 common shares of the Company at an exercise price of $0.30 per common share for a period of 24 months after the closing of the private placement.
The Company is also pleased to announce that it has concluded negotiations for a private placement of 1,066,667 Units of the Company at a price of $0.30 per Unit for total proceeds of $320,000. 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 $0.50 per share for a period of 24 months after the closing of the private placement. As a part of the financing, 400,000 Units of the placement representing an amount of $120,000 will qualify as “flow-through Units” for purposes of the Income Tax Act (Canada). The Company will pay a fee of 5% on $180,000 of the gross proceeds of the placement along with warrants exercisable for a total amount of 90,000 common shares of the Company at an exercise price of $0.30 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. The flow-through proceeds will enable the Company to aggressively explore its Elizabeth and Blackdome South projects in British Columbia. Other proceeds will be applied to working capital.
The private placements are subject to regulatory approval.
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.
J-PACIFIC ARRANGES FINANCINGS
The Board of Directors of J-Pacific Gold Inc. (the “Company”) is pleased to announce that the Company has entered into a $200,000 private placement agreement with CMP 2002 Resource Limited Partnership to acquire 666,667 common shares of the Company, which qualify as “flow-through shares” for purposes of the Income Tax Act (Canada), at a subscription price of $0.30 per flow-through share. The Company will pay a commission of 5% of the gross proceeds of the offering to Dundee Securities Corporation and along with a warrant exercisable for 66,667 common shares of the Company at an exercise price of $0.30 per common share for a period of 24 months after the closing of the private placement.
The Company is also pleased to announce that it has concluded negotiations for a private placement of 1,066,667 Units of the Company at a price of $0.30 per Unit for total proceeds of $320,000. 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 $0.50 per share for a period of 24 months after the closing of the private placement. As a part of the financing, 400,000 Units of the placement representing an amount of $120,000 will qualify as “flow-through Units” for purposes of the Income Tax Act (Canada). The Company will pay a fee of 5% on $180,000 of the gross proceeds of the placement along with warrants exercisable for a total amount of 90,000 common shares of the Company at an exercise price of $0.30 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. The flow-through proceeds will enable the Company to aggressively explore its Elizabeth and Blackdome South projects in British Columbia. Other proceeds will be applied to working capital.
The private placements are subject to regulatory approval.
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.
