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Olitra Private Placement, JAG Oil and Gas Subsidiary
Published : February 04, 2013
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Keywords :   Oil |

MONTRÉAL, QUÉBEC--(Marketwire - Feb. 4, 2013) - J.A.G. Mines Ltd (News - Market indicatorswishes to announce that its majority-owned subsidiary Olitra Inc. (OLITRA) is currently completing a private placement in the amount of up to three hundred and fifty thousand dollars ($350,000). This placement is being offered in units of $5,000 to arm's length accredited investors. 

OLITRA plans to issue a total of up to three million five hundred thousand (3,500,000) shares at a price of $ 0.10 per share. As a result of this financing, JAG's equity position in OLITRA will be reduced by a maximum of 4.5% - from 67% to 62.5%. Olitra will use these proceeds to support its working capital requirements, including property renewal payments and legal and administration expenses related to Olitra's planned Listing.

Pursuant to the closing of its private placement, OLITRA plans to list with the TSX Ventures exchange. OLITRA anticipates that the Listing will be realized via a Qualifying Transaction (QT) with a Canadian Pool Corporation (CPC) or a reverse takeover (RTO) via a TSX-V listed firm. The shares issued in this private placement will not be consolidated during the Listing process.

Neither 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.

Pierre Gevry, President
Les Mines J.A.G. Ltee
g.m.st.jacques@gmail.com
514-849-7336
514-849-9260 (FAX)
or
Charles Alexander, President
Olitra Inc.
calexander@olitrainc.com
514-849-0495
514-849-9260 (FAX)
www.olitrainc.com
Companies Mentionned : J.a.g. | Total |
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Les Mines JAG Ltee

CODE : JML.V
ISIN : CA4660801081
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Financings of Les Mines JAG Ltee
4/4/2013Private Placement of Up to $240,000
2/4/2013Olitra Private Placement, JAG Oil and Gas Subsidiary
1/8/2013Closes $340,000 Private Placement
11/30/2012Private Placement of J.A.G.
9/24/2012Private Placement of Up to $1,000,000. Flow-Through Units
4/11/2011Ltd/Olitra Inc.: Closing of a $750,000 Olitra Inc.-Private P...
Nominations of Les Mines JAG Ltee
2/23/2011J.A.G. resignation of Richard Boudreault, director
2/23/2011Resignation of a Director
Corporate news of Les Mines JAG Ltee
8/6/2013Revocation of Cease Trade Order
5/8/2013Cease Trade Order on JAG stock
1/9/2013CORRECTION FROM SOURCE/J.A.G. Mines Ltd.: Final Closing $340...
7/14/2011Is Active on Its Polymetallic Property of St-Robert
3/15/2011Ltd/Olitra Inc.: Fifth Year of Conventional Natural Gas Rese...
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TSX-V (JML.V)
0.040+0.00%
TSX-V
CA$ 0.040
11/28 15:46 -
0%
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0.040 0.045
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Year l/h YTD var.
0.035 -  0.080 -33.33%
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56,500 -11.11%
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