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Jasper Mining Corporation closes $2,800,000 private placement with MineralFields Group
Jasper Mining Corporation closes $2,800,000 private placement with MineralFields Group.
About this update from Tuktu Resources Ltd
[{"type":"text","content":"\n\n\n\nTrading Symbol: JSP (TSX-V)\n\n\nCALGARY, Oct. 26 /CNW/ - Jasper Mining Corporation (TSXV:JSP) is pleased\nto announce that further to its news release of October 5, 2007 it has now\ncompleted a portion of its non-brokered private placement and accordingly has\nissued 7,000,000 flow-through units (the "FT Units") of the Company at a price\nof $0.40 per FT Unit for gross proceeds to the Company of $2,800,000.\n\n\nFirst Canadian Securities(R) acted as the finder with respect to this\nfinancing. As consideration for its participation in the offering, the finder\nreceived a cash commission equal to 6% of the total proceeds raised for a\ntotal of $168,000 was issued finders fee options equal to 8% of the total\nnumber of FT Units sold and was paid a 2% due diligence fee totalling $56,000\nplus GST. As previously disclosed (refer to October 5, 2007 news release),\neach finders fee option issued in connection with FT Units sold (560,000\nfinders fee options) is exercisable into one unit at a price of $0.40 per\nunit.\n\n\nAll of the securities issued pursuant to this private placement are\nsubject to a four month hold period. The hold period for the 7,000,000 FT\nUnits and the corresponding finder's fee options expires on February 25, 2008.\n\n\n"We are very pleased to be commencing our relationship with MineralFields\nGroup", said Gordon Dixon, Chairman of the Corporation. "This is an important\nmilestone in the growth of Jasper Mining Corporation and we look forward to\nworking with MineralFields Group as we develop our properties in B.C."\n\n\nMineralFields Group (a division of Pathway Assets Management) is a\nToronto-based mining fund with significant assets under administration that\noffers its tax-advantaged super flow-through limited partnerships to investors\nthroughout Canada during most of the calendar year, as well as hard-dollar\nresource limited partnerships to investors throughout the world. Pathway Asset\nManagement also specializes in the manufacturing and distribution of\nstructured products and mutual funds. Information about MineralFields Group is\navailable at www.mineralfields.com. First Canadian Securities(R) is active in\nleading resource financings (both flow-through and hard dollar) on\ncompetitive, effective and service-friendly terms, with investors both within,\nand out...