PASS LAKE, ON, March 14 /CNW/ - Jiminex Inc. (the "Corporation") is
pleased to announce that it has successfully completed its initial public
offering of 3,500,000 common shares (the "Common Shares") at $0.10 per share
for gross proceeds of $350,000 (the "Offering"). As a result of this issuance,
the Corporation has 10,315,000 Common Shares issued and outstanding. In
connection with the Offering, the Corporation granted an option that entitles
the holder to acquire an aggregate of 350,000 Common Shares (the "Agent's
Option") at an exercise price of $0.10 per share to Leede Financial Markets
Inc., who acted as agent for the Offering. The Agent's Option will expire 24
months from the date the Corporation's Common Shares are listed on the TSX
Venture Exchange (the "Exchange"). The Corporation is a capital pool company
pursuant to Policy 2.4 of the Exchange.
The Corporation has also granted options to acquire an aggregate of
711,500 Common Shares at an exercise price of $0.10 per share to the directors
and officers of the Corporation, which will expire 5 years from the date of
The Exchange has conditionally approved the listing of the Corporation's
Common Shares on the Exchange and the Corporation now intends to make
application for final approval. It is expected that the Corporation's trading
symbol will be "JIM.P"
Investors are cautioned that trading in the securities of a capital pool
company should be considered highly speculative.
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY
OR ACCURACY OF THIS RELEASE.
For further information:
For further information: James R.B. Parres, President and Chief
Executive Officer of Jiminex Inc., Phone: (807) 977-1679