Jaxon Minerals closes $592K private placement

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By CPE News

Vancouver (pcJ News Briefs) – Jaxon Minerals Inc. (TSX-V: JAX; FSE: 0U3) has completed previously announced non-brokered private placement of 8,463,144 units at a price of $0.07 per unit for gross proceeds of $592,420.

Each unit consists of one common share and one common share purchase warrant entitling the holder to acquire an additional common share for a period of 24 months following the closing date at an exercise price of $0.12 per share.

Two insiders of the company subscribed for 2,100,000 units for proceeds of $147,000. Jaxon Minerals paid finder’s fees to arm’s-length third parties consisting of $27,681.61 in cash, 268,000 broker’s warrants and 127,452 “Option Certificates” (Option Certificates- option to acquire up an additional 127,452 units under the same terms of the private placement).

Jaxon Minerals Inc. is focused on building value through the exploration of high grade silver, gold and base metals in British Columbia. Jaxon’s most recent acquisition is the drill ready, Price Creek Property (2,396 ha) located 55 km north of Smithers, north central B.C. Targets are shallowmarine VMS with an epithermal component of precious and base metals containing direct shipping ore grades.

photo credit: Jaxon Minerals