By Devika Patel
Knoxville, Tenn., Jan. 8 - Jalna Minerals Ltd. announced it has settled the first tranche of a non-brokered private placement of shares, raising C$467,000. The deal priced for up to C$1 million on Oct. 16.
In this tranche, Jalna Minerals sold 1,556,667 flow-through shares.
The company plans to sell up to 2 million common shares total at C$0.25 apiece and a total of up to 1,666,650 flow-through common shares at C$0.30 each.
The company will pay a 7.5% finder's fee.
Proceeds will be used to finance the acquisition and development of the company's Nonacho Basin property.
Jalna Minerals, formerly known as Jalna Resources Ltd., is a Vancouver, B.C., mineral exploration company.
| Issuer: | Jalna Minerals Ltd.
|
| Issue: | Common shares, flow-through common shares
|
| Amount: | $1 million (maximum)
|
| Agent: | Non-brokered
|
| Fees: | 7.5%
|
| Pricing date: | Oct. 16
|
| Settlement date: | Jan. 7 (for C$467,000)
|
| Stock symbol: | TSX Venture: JMA.H
|
| Stock price: | C$0.30 at close Oct. 15
|
|
|
| Common shares
|
| Shares: | 2 million (maximum)
|
| Price: | C$0.25
|
| Warrants: | No
|
|
|
| Flow-through common shares
|
| Shares: | 1,666,650 (maximum)
|
| Price: | C$0.30
|
| Warrants: | No
|
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