VANCOUVER,
Oct. 6, 2011 /PRNewswire/ - Jet
Gold Corp. (TSX-V: JAU) today announced a non brokered private
placement of $700,000 to be raised
through the issuance of 3,500,000 units ("Units") at a price of
$0.20 per Unit. Each Unit will
be comprised of one common share and one common share purchase
warrant ("Warrant"). One Warrant will entitle the holder to
purchase one common share at a price of $0.25 per share in year one and $0.30 per share in year two.
The proceeds of the financing will be used to
further explore the Big Hammer Gold property located in
Terrace, BC, and the Silver Bay property in west central BC and for
general working capital purposes.
The private placement is subject to TSX Venture
Exchange approval.
JetGold is a Canadian resource exploration
company actively developing gold, silver, copper, zinc, molybdenum
and tellurium mineral resource properties in British Columbia, Canada. The company is
currently undertaking exploration of its two unique precious metal
properties [Big Hammer and Silver
Bay] and a base metal property [Kshish].
Big Hammer
Silver Bay
Kshish |
Gold/silver/tellurium (Au/Ag/Te) property located 13 km
southeast of Terrace
Silver/zinc (Ag/Zn) property located in west central
BC
Copper/Molybdenum (Cu/Mo) property located 15 km northeast of
Terrace |
JetGold is strategically investing in the Terrace and Smithers mining districts of British Columbia based on excellent road
access, abundant power and water supply and close proximity to the
CN rail line and the Fairview Terminal deep water container port in
Prince Rupert. The port is an
important part of the Government of Canada's "Asia-Pacific Gateway &
Corridor Initiative" and the Province of British Columbia's "Pacific Gateway"
strategy.
Additional information at: www.jetgoldcorp.com
On behalf of the Board of Directors,
Jet Gold Corp. (TSX.V: JAU)
"Brad J. Moynes"
Brad J.
Moynes
President & CEO
Forward Looking Information:
Neither the 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.
Statements containing forward-looking information express, as
at the date of this news release, the Company's plans, estimates,
forecasts, projections, expectations or beliefs as to future events
or results and are believed to be reasonable based on information
currently available to the Company.
Forward-looking statements and information are based on
assumptions that financing and personnel will be available when
required and on reasonable terms, and all necessary regulatory
approvals and shareholder approval will be obtained, none of which
are assured and are subject to a number of other risks and
uncertainties
There can be no assurance that forward-looking statements
will prove to be accurate. Actual results and future events could
differ materially from those anticipated in such statements.
Readers should not place undue reliance on forward-looking
information.
SOURCE Jet Gold Corp.