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

Les Mines JAG Ltee

CODE : JML.V
ISIN : CA4660801081
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J.A.G. is an exploration company based in Canada.

J.A.G. is listed in Canada. Its market capitalisation is CA$ 961 746 as of today (US$ 736 409, € 659 013).

Its stock quote reached its highest recent level on September 22, 2000 at CA$ 34.00, and its lowest recent point on June 03, 2016 at CA$ 0.01.

J.A.G. has 64 116 419 shares outstanding.

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Financings of Les Mines JAG Ltee
4/10/2015Private placement of 150 000 $
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
3/4/2015Appointment of a New Officer
2/23/2011J.A.G. resignation of Richard Boudreault, director
2/23/2011Resignation of a Director
Corporate news of Les Mines JAG Ltee
6/16/2016J.A.G. Mines Ltd.: Exploration for Natural Gas, Condensates ...
9/1/2015J.A.G. Mines Ltd: New Address
6/19/2015Transaction Between JAG and Khalkos for Malartic
4/10/2015J.A.G. Mines Ltd.: Private placement of 150 000 $
3/6/2015Gas and Oil Prospection
3/4/2015J.A.G. Mines Ltd.: Appointment of a New Officer
2/10/2015Gas and Oil Prospecting: Second Phase of the Bioverda-JAG-Ol...
11/25/2014IIROC Trading Resumption - JML
11/25/2014Gas and Oil Prospecting: A New Partner for JAG and OLITRA
11/25/2014IIROC Trading Halt - JML
5/6/2014J.A.G. Mines Ltd.: Exploration Work on Conventional Natural ...
4/1/2014J.A.G. Mines Ltd.: Appointment of a Business Development Con...
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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