Owner
Post by Franko10 ™ on Mar 2, 2005 9:32:07 GMT -5
OCTOBER 15, 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 750,000 Units of the Company at a price of $0.40 per Unit for total proceeds of $300,000. As a part of the financing, 550,000 Units of the placement representing an amount of $220,000 will qualify as “flow-through Units” for purposes of the Income Tax Act (Canada). Each non-flow through 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. Each flow through 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 12 months after the closing of the private placement. The Company will pay a fee of 7.5% on $100,000 of the gross proceeds of the placement along with warrants exercisable for a total amount of 50,000 common shares of the Company at an exercise price of $0.60 per common share for a period of 12 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 explore its Elizabeth and Blackdome South projects in British Columbia. Other proceeds will be applied to working capital.
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 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 750,000 Units of the Company at a price of $0.40 per Unit for total proceeds of $300,000. As a part of the financing, 550,000 Units of the placement representing an amount of $220,000 will qualify as “flow-through Units” for purposes of the Income Tax Act (Canada). Each non-flow through 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. Each flow through 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 12 months after the closing of the private placement. The Company will pay a fee of 7.5% on $100,000 of the gross proceeds of the placement along with warrants exercisable for a total amount of 50,000 common shares of the Company at an exercise price of $0.60 per common share for a period of 12 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 explore its Elizabeth and Blackdome South projects in British Columbia. Other proceeds will be applied to working capital.
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.
