Jet Gold Corp. today announced a nonbrokered private placement of $400,000 to be raised through the issuance of 1,428,571 flow through units (“FT Units”) at a price of $0.28 per FT Unit. Each FT Unit will be comprised of one flowthrough common share and onehalf of one non flowthrough common share purchase warrant for a term of 24 months (“Non FT Warrant”). One whole Non FT Warrant will entitle the holder to purchase one non flowthrough common share at a price of $0.35 per share in year one and $0.45 per share in year two.
The proceeds of the financing will be used to further explore and immediately commence diamond drilling of up to 3500m at the Big Hammer Gold property located in Terrace, BC.
The securities issued pursuant to the private placement will be subject to a hold period of four months and one day from the closing. The Company may pay finder’s fees in connection with the private placement, subject to compliance with the policies of the TSX Venture Exchange (“Exchange”). Completion of the private placement and the payment of any finder’s fees remain subject to the receipt of all necessary regulatory approvals, including the approval of the Exchange.
JetGold is a Canadian resource exploration company actively developing gold, silver, copper, zinc, molybdenum and tellurium mineral resource properties in British Columbia, Canada. The company is currently undertaking exploration of its two unique precious metal properties [Big Hammer and Silver Bay] and a base metal property [Kshish].
Big Hammer Gold/silver/tellurium (Au/Ag/Te) property located 13 km southeast of Terrace Silver Bay Silver/zinc (Ag/Zn) property located in west central BC Kshish Copper/Molybdenum (Cu/Mo) property located 15 km northeast of Terrace
JetGold is strategically investing in the Terrace and Smithers mining districts of British Columbia based on excellent road access, abundant power and water supply and close proximity to the CN rail line and the Fairview Terminal deep water container port in Prince Rupert. The port is an important part of the Government of Canada’s “Asia-Pacific Gateway & Corridor Initiative” and the Province of British Columbia’s “Pacific Gateway” strategy.
Additional information at: www.jetgoldcorp.com
On behalf of the Board of Directors,
Jet Gold Corp. (TSX.V: JAU)
Brad J. Moynes
President & CEO
For more information, contact:
Brad Moynes (6046012070)
Investor Relations, contact:
Gus Garisto (4168053106)