Shares outstanding: 28,510,116
PASS LAKE, ON, April 26 /CNW/ - Jiminex Inc. ("Jiminex" or the "Company") reports that it has completed a non-brokered private placement and has issued 3,510,000 units ("Unit") at a price of $0.10 per Unit, for total gross proceeds of $351,000. Total shares outstanding following this private placement will be 28,510,116.
Each Unit consists of one common share ("Share") and one common share purchase warrant ("Warrant"). Each Warrant allows the holder to subscribe for one Share at a price of $0.20 expiring on April 23, 2012. The Units will be subject to a four-month hold period.
Jiminex paid $14,000 in commissions and finder's fees, and issued 140,000 Broker Warrants in connection with this private placement, in accordance with the rules and regulations of the TSXV. Conditional acceptance to this private placement was issued by the TSX Venture Exchange on April 16, 2010.
The Company intends to utilize the proceeds from the private placement principally for exploration on its properties as well as for general working capital purposes.
Jiminex Inc. was listed as a junior resource company on the TSX venture exchange in late August 2009 and is focused on gold exploration in Canada. At present, the company's main exploration activity will be on the Parres and Parres Two properties located in the well-known Snow Lake copper-zinc and gold mining camp of Manitoba where the major new Lalor Lake copper-zinc and gold deposit discovery of HudBay Minerals Inc. is actively being explored and developed. Jiminex is also present in the Hemlo gold mining camp, Ontario close to the World-Class 21 million ounce Hemlo gold deposit currently being mined by Barrick Gold Corp. The Northern Eagle gold property is considered one of the best target areas in which to locate another Hemlo-style gold deposit and Jiminex can earn a 50% interest from Beaufield Resources Inc. The Misehkow River Property located in the Pickle Lake gold region of Ontario presents an opportunity to locate iron formation hosted gold deposits over a large target area of approximately 20 kilometres. Jiminex is actively seeking to locate and acquire new high potential gold exploration properties.
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This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in the Company's periodic reports including the annual report or in the filings made by the Company from time to time with securities regulations. The Company undertakes no obligation to publicly release the result of any revision of these forward-looking statements to reflect events or circumstances after the date they are made or to reflect the occurrence of unanticipated event.
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 JIMINEX INC.
For further information: For further information: Jim Parres, President & CEO, Phone: (807) 977-1679, Fax: (807) 977-1769, Email: firstname.lastname@example.org, Website: http://www.jiminex.com