VANCOUVER, April 27 /CNW/ - Brad J. Moynes, President of Jet Gold Corp. (the "Company" or "Jet
Gold") (TSX-V: JAU) wishes to announce that it has arranged a non-brokered private
placement of up to 3,000,000 flow-through units ("FT Units") at a price
of $0.22 per FT Unit. Each FT Unit shall consist of one flow-through
common share and one non-flow-through share purchase warrant with a
term of 24 months and an exercise price of $0.25. MineralFields Group
proposes to subscribe to the Flow-through unit offering.
In addition, the Company has also negotiated a non-brokered private
placement of up to 3,000,000 non flow-through units ("NFT Units") at a
price of $0.19 per NFT Unit. Each NFT Unit shall consist of one common
share and one share purchase warrant with a term of 24 months and an
exercise price of $0.25. The total proceeds from the financing are
estimated at $1,230,000.
The securities issued pursuant to the private placement will be subject
to a four month hold period from the closing date. 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.
The proceeds of the flow-through financing will be used to conduct
exploration on the Company's Big Hammer gold/tellurium property located
SE of Terrace, British Columbia and also a work program on the
company's Kshish molybdenum property located NE of Terrace. The
Company expects to start the exploration of both properties with an
airborne survey over both claim groups in May.
Ground exploration of sampling, geological mapping and trenching is
expected to follow on the Big Hammer group. Exploration work on the
Kshish moly property is expected to begin in late June, early July
depending on ground conditions.
The non flow-through portion of funds will be added to working capital.
Brad J. Moynes, President of Jet Gold stated, "We are very pleased to be
commencing our relationship with MineralFields Group. This is an
important milestone in the growth of Jet Gold and we look forward to
working with MineralFields Group as we develop our holdings in the Big
Hammer Gold and the Kshish Molybdenum group of properties."
"About MineralFields, Pathway and First Canadian Securities ®"
MineralFields Group (a division of Pathway Asset Management), based in
Toronto, Montreal, Vancouver and Calgary, is a mining fund with
significant assets under administration that offers its tax-advantaged
super flow-through limited partnerships to investors throughout Canada
as well as hard-dollar resource limited partnerships to investors
throughout the world. Pathway Asset Management also specializes in the
manufacturing and distribution of structured products and mutual funds
(including the Pathway Multi Series Funds Inc. corporate-class mutual
fund series). Information about MineralFields Group is available at www.mineralfields.com. First Canadian Securities ® (a division of Limited Market Dealer
Inc.) is active in leading resource financings (both flow-through and
hard dollar PIPE financings) on competitive, effective and
service-friendly terms, and offers investment banking, mergers and
acquisitions, and mining industry consulting, services to resource
companies. MineralFields and Pathway have financed several hundred
mining and oil and gas exploration companies to date through First
Canadian Securities ®.
For more information about the Company please visit www.jetgoldcorp.com.
On behalf of the board of directors,
Jet Gold Corp.
"Brad J. Moynes"
Brad J. Moynes
President & CEO
"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."
Statements containing forward-looking information express, as at the
date of this news release, the Company's plans, estimates, forecasts,
projections, expectations, or beliefs as to future events or results
and are believed to be reasonable based on information currently
available to the Company.
Forward-looking statements and information are based on assumptions that
financing and personnel will be available when required and on
reasonable terms, and all necessary regulatory approvals and
shareholder approval will be obtained, none of which are assured and
are subject to a number of other risks and uncertainties
There can be no assurance that forward-looking statements will prove to
be accurate. Actual results and future events could differ materially
from those anticipated in such statements. Readers should not place
undue reliance on forward-looking information.
SOURCE Jet Gold Corp.
For further information:
For more information regarding JetGold, please contact:
Brad J. Moynes
Tel: 604.484.5761 x31