Owner
Post by Franko10 ™ on Mar 2, 2005 8:46:23 GMT -5
January 7, 2003
J-PACIFIC ARRANGES FINANCING
The Board of Directors of J-Pacific Gold Inc. (the “Company”) is pleased to announce that the Company has concluded negotiations for a private placement of 1,000,000 Units of the Company at a price of $0.40 per Unit for total proceeds of $400,000. 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 $0.60 per share for a period of 24 months after the closing of the private placement. The Company will pay a fee of 2% on the gross proceeds of the placement along with warrants exercisable for a total amount of 100,000 common shares of the Company at an exercise price of $0.60 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 Company also announces that it has granted incentive stock options to directors and officers of the Company for the purchase of a total 700,000 common shares for a period of five years at a price of $0.70 per share.
The private placement and the grant of the options 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 FINANCING
The Board of Directors of J-Pacific Gold Inc. (the “Company”) is pleased to announce that the Company has concluded negotiations for a private placement of 1,000,000 Units of the Company at a price of $0.40 per Unit for total proceeds of $400,000. 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 $0.60 per share for a period of 24 months after the closing of the private placement. The Company will pay a fee of 2% on the gross proceeds of the placement along with warrants exercisable for a total amount of 100,000 common shares of the Company at an exercise price of $0.60 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 Company also announces that it has granted incentive stock options to directors and officers of the Company for the purchase of a total 700,000 common shares for a period of five years at a price of $0.70 per share.
The private placement and the grant of the options 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.
