Owner
Post by Franko10 ™ on Mar 2, 2005 8:48:00 GMT -5
FEBRUARY 3, 2003
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. (“Jipangu”) of Tokyo, Japan, as reported in the news release of January 15, 2003 has closed. A total of 375,000 Units of the Company were issued at a price of $0.40 per Unit for total proceeds of $150,000. 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 $0.60 per share until January 31, 2005. Net proceeds from the private placement have been applied to working capital.
Jipangu has purchased all of the above shares, which, together with the shares issuable upon exercise of the warrants and with the shares already owned by Jipangu, represent ownership, and control of 38.21% of the currently issued and outstanding common shares of the Company. The issuance of such shares will result in Jipangu currently owning or exercising control over 12,949,555 common shares of the Company representing 37.54% 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 June 1, 2003 except as permitted by the Securities Act and the Rules made thereunder and the TSX Venture Exchange.
On behalf of J-Pacific Gold Inc.
On behalf of Jipangu Inc.
“N. Ferris”<br> “T. Matsufuji”<br>
President and CEO
President and CEO
The TSX 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. (“Jipangu”) of Tokyo, Japan, as reported in the news release of January 15, 2003 has closed. A total of 375,000 Units of the Company were issued at a price of $0.40 per Unit for total proceeds of $150,000. 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 $0.60 per share until January 31, 2005. Net proceeds from the private placement have been applied to working capital.
Jipangu has purchased all of the above shares, which, together with the shares issuable upon exercise of the warrants and with the shares already owned by Jipangu, represent ownership, and control of 38.21% of the currently issued and outstanding common shares of the Company. The issuance of such shares will result in Jipangu currently owning or exercising control over 12,949,555 common shares of the Company representing 37.54% 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 June 1, 2003 except as permitted by the Securities Act and the Rules made thereunder and the TSX Venture Exchange.
On behalf of J-Pacific Gold Inc.
On behalf of Jipangu Inc.
“N. Ferris”<br> “T. Matsufuji”<br>
President and CEO
President and CEO
The TSX Venture Exchange has neither approved nor disapproved the information contained herein.
For further information, please contact Mr. Nick Ferris -Telephone 1-888-236-5200.
