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Jasper Mining Corporation Announces Letter of Intent For Reverse Take-over
Jasper Mining Corporation Announces Letter of Intent For Reverse Take-over Jasper ...
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[{"type":"text","content":"\n\n\n\nJasper Mining Corporation Announces Letter of Intent For Reverse Take-over\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nJasper Mining Corporation Announces Letter of Intent For Reverse Take-over\nCanada NewsWire\nCALGARY, June 2, 2016\n\n\n\nTrading Symbol: TSX-V: JSP News Release No. 16-272-05 \n\n\n\nCALGARY, June 2, 2016 /CNW/ - Jasper Mining Corporation (\"Jasper\" or the \"Company\") (TSX-V:JSP) is pleased to announce that it has entered into a letter of intent dated May 16, 2016 (the \"Letter of Intent\") with two arm's length private Alberta companies, Tacitus Ventures Corp. (\"Tacitus\") and Delfan Energy Resources Corp (\"Delfan\"), to acquire all the issued and outstanding common shares of Tacitus and Delfan in an all-stock transaction that is anticipated to be completed by way of Plan of Arrangement (the \"Transaction\").  The Transaction will constitute a reverse takeover under the rules and policies of the TSX Venture Exchange (\"TSXV\").  The Transaction gives Jasper exposure to scalable and economically attractive opportunities in both the exploration and production of helium for industrial customers and CO2 for enhanced oil recovery efforts in the United States. \n\nThe Transaction may also involve a concurrent (brokered/non-brokered) private placement offering of common shares in the capital of Jasper (\"Jasper Shares\") at a price of $0.3482 for aggregate gross proceeds of up to $3,000,000 (the \"Private Placement\").  The gross proceeds of the Private Placement will be used to provide operational and working capital.  The Transaction is expected to close prior to the end of August 2016 and is subject to the approval of the shareholders of each of Jasper, Tacitus and Delfan and of the TSXV and approved by the Court of Queen's Bench of Alberta.\n\nFor the purposes of the Transaction, the Company will have a deemed value of approximately $4 million, Tacitus will have a deemed value of approximately $4 million and Delfan will have a deemed value of approximately $2 million. \n\nShareholders of each of Tacitus and Delfan will ...