February 1, 2006
Christopher James Gold Corporation (the “Company”) has closed the non-flow-through unit portion of its non-brokered private placement, originally announced December 16, 2005.
The Company raised $1.59 million from the sale of 5,300,000 non-flow-through units at a price of $0.30 per unit. Each unit comprised one common share and one-half of a share purchase warrant. Each whole warrant entitles the holder to purchase one additional share at a price of $0.60 for one year.
The Company earlier raised $540,000 from the flow-through unit portion of its private placement, which closed on December 29, 2005 (see the Company’s news release dated January 3, 2006).
Finders’ fees of 444,500 units (having the same attributes as the non-flow-through units) and warrants to purchase 444,500 shares of the Company at a price of $0.45 for 12 months were paid in connection with the private placement.
Securities comprising the non-flow-through units and the finders’ fees are subject to a hold period expiring on June 2, 2005. The closing of the private placement was extended with the approval of the TSX Venture Exchange.
Proceeds from the financing will be used for exploration and development work on the Company’s mineral properties and for general working capital.
Christopher James Gold Corp.
Max Baker, President
For further information, contact Max Baker at (604) 782-4369.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release. |
