JASPER MINING CORPORATION CLOSES $199,500 PRIVATE PLACEMENT

About this update from Tuktu Resources Ltd

[{"type":"text","content":"\n\n\n May 12, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nTrading Symbol: JSP (TSX-V)\nwww.jaspermining.com\n\n\nCALGARY, May 12 /CNW/ - Jasper Mining Corporation (the\n "Company")(TSX-V:JSP) is pleased to announce that it has completed a\n non-brokered private placement, as announced on May 5, 2011, and\n accordingly has issued 767,308 units of the Company at a price of $0.26\n per unit; for gross proceeds to the Company of $199,500. Each unit will\n consist of 1 common share and ½ common share purchase warrant. The\n warrants are at an exercise price of $0.45 and expire May 6, 2013.\n\n\nThe private placement has resulted in the issuance of 767,308 common\n shares, and 383,654 share purchase warrants. There were 3 subscribers\n to the private placement.\n\n\nA finders fee of $8,970 will be paid to Anacort Capital Inc., being 6%\n of $149,500 and the Company will grant finder's fee warrants equal to\n 6% of 575,000 units subscribed for to Anacort Capital Inc. (34,500\n warrants) at an exercise price of $0.45 with a term of 18 months.\n\n\nAll of the securities issued pursuant to this private placement are\n subject to a four month hold period.\n\n\nThis News Release is being issued in accordance with TSX Venture\n Exchange procedure which requires a News Release be made that discloses\n the material details of the private placement.\n\n\nThe TSX Venture Exchange has not reviewed and does not accept\n responsibility for the adequacy\nor accuracy of this rele...

More updates from Tuktu Resources Ltd