VANCOUVER, July 25, 2012 /CNW/ - Jaxon Minerals Inc. (the "Company")
(TSX-V: JAX), announces a non-brokered private placement of up to
10,000,000 units at $0.08 per unit to raise gross proceeds of up to
$800,000 (the "Offering"). Each unit will be comprised of one common
share and one-half common share purchase warrant. Each full common
share purchase warrant will entitle the holder to purchase one common
share at $0.12 per share with an expiry date of one year from the
closing of the private placement; provided however that should the closing price of the Company's share price on the TSX-V
be at least $0.30 per share for 20 consecutive trading days, the
Company may, by notice to the warrant holders, reduce the remaining
exercise period for the warrants to 30 calendar days from the date of
the notice. A finders' fee commensurate with TSX.V policies will be
paid where applicable.
The funds raised will be used to conduct exploration on its mineral
claims in the famous Flin-Flon-Snow Lake VMS belt of Manitoba and
Saskatchewan and for general working capital.
ON BEHALF OF THE BOARD OF DIRECTORS
JAXON MINERALS INC.
This news release may contain forward-looking information which is not
comprised of historical facts. Forward-looking information involves
risks, uncertainties and other factors that could cause actual events,
results, performance, prospects and opportunities to differ materially
from those expressed or implied by such forward-looking information.
Forward looking information in this news release may include, but is
not limited to, the Company's objectives, goals or future plans.
Factors that could cause actual results to differ materially from such
forward-looking information include, but are not limited to, those
risks set out in the Company's public documents filed on SEDAR.
Although the Company believes that the assumptions and factors used in
preparing the forward-looking information in this news release are
reasonable, undue reliance should not be placed on such information,
which only applies as of the date of this news release, and no
assurance can be given that such events will occur in the disclosed
time frames or at all. The Company disclaims any intention or
obligation to update or revise any forward-looking information, whether
as a result of new information, future events or otherwise, other than
as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Jaxon Minerals Inc.
For further information:
regarding Jaxon Minerals Inc., please contact Leif Smither at 604-608-0400, Toll Free: 1-877-608-0007 or visit our website at www.jaxonminerals.com.