Owner
Post by Franko10 ™ on Mar 2, 2005 8:31:36 GMT -5
SEPTEMBER 12, 2002
J-PACIFIC FURTHER INCREASES FINANCING
The Board of Directors of J-Pacific Gold Inc. (the “Company”) is pleased to announce that the $320,000 private placement announced on August 29, 2002 and amended on September 11, 2002, has been further increased to $440,000. As a part of the financing, an amount of $190,000 will qualify as “flow-through Units” for purposes of the Income Tax Act (Canada). The Company will pay a fee of 5% on $257,000 of the gross proceeds of the placement along with warrants exercisable for a total amount of 128,500 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 private placement is 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 FURTHER INCREASES FINANCING
The Board of Directors of J-Pacific Gold Inc. (the “Company”) is pleased to announce that the $320,000 private placement announced on August 29, 2002 and amended on September 11, 2002, has been further increased to $440,000. As a part of the financing, an amount of $190,000 will qualify as “flow-through Units” for purposes of the Income Tax Act (Canada). The Company will pay a fee of 5% on $257,000 of the gross proceeds of the placement along with warrants exercisable for a total amount of 128,500 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 private placement is 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.
