By Sheri Kasprzak
New York, April 13 - New Jersey Mining Co. has completed a $1.32 million private placement of units.
The company sold 4.4 million units on a non-brokered basis at $0.30 each to eight private investors.
The units consist of one share and one warrant. The warrants are exercisable at $0.50 each through March 1, 2008.
Proceeds will be used for exploration and development of the company's Idaho drilling projects.
New Jersey Mining is a gold and silver exploration company based in Kellogg, Idaho.
| Issuer: | New Jersey Mining Co.
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| Issue: | Units of one share and one warrant
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| Amount: | $1.32 million
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| Units: | 4.4 million
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| Price: | $0.30
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| Warrants: | One warrant per unit
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| Warrant expiration: | March 1, 2008
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| Warrant strike price: | $0.50
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| Settlement date: | April 13
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| Stock symbol: | OTCBB: NJMC
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| Stock price: | $0.63 at close April 13
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