MONTREAL, QUEBEC--(Marketwire - Nov 30, 2012) - J.A.G. MINES LTD. (TSX VENTURE:JML) wish to announce a first closing on its private placement currently underway. An amount of $340 000 has been raised as of this date on the total amount of one million dollars ($1 000 000.) This placement is being offered to "Accredited Investors" in units of $5,000. Each unit is made up of:
- 40 000 flow-through common shares at $0.10 per share;
- 10 000 non-flow-through common shares at $0.10 each and;
- 25 000 common share purchase warrants, each warrant shall entitle the holder thereof to acquire one common share of the Issuer (on a non-flow-through basis) at a price of $0.20 until the date which is twelve (12) month following the Closing date.
The proceeds (80%) will be used to incur exploration expenditures on JAG''s Properties in Belleterre-Temiscamingue (gold-silver) and St-Robert-Bellarmin (gold-silver-tungsten, lead, zinc).
Shares issued pursuant to the offering will be subject to a four (4) month hold period. The private placement is scheduled to expire on December 20th, 2012.