By Laura Lutz
Des Moines, Feb. 13 - New Jersey Mining Corp. completed a private placement for $1.074 million.
The company sold 2.685 million units of one share and one half-share warrant at $0.40 per unit. Each whole warrant is exercisable at $0.55 until Dec. 31, 2008.
The placement was non-brokered.
Proceeds will be used for exploration and to purchase a drill rig.
New Jersey Mining is a mineral exploration company based in Kellogg, Idaho.
| Issuer: | New Jersey Mining Corp.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | $1.074 million
|
| Units: | 2.685 million
|
| Price: | $0.40
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Dec. 31, 2008
|
| Warrant strike price: | $0.55
|
| Agent: | Non-brokered
|
| Settlement date: | Feb. 13
|
| Stock symbol: | OTCBB: NJMC
|
| Stock price: | $0.62 at close Feb. 13
|
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