J.A.G. Mines Ltd/Olitra Inc.: Closing of a $750,000 Olitra Inc.-Private Placement
April 11 2011 - 1:05PM
Marketwired
Les Mines J.A.G. Ltee (TSX VENTURE: JML) ("JAG") announces that its
Olitra Inc. subsidiary has completed a $750,000 Private Placement
with arm's length Accredited Investors.
This Placement calls for the issuance of six million (6,000,000)
common shares of Olitra, of which 80% are Flow-through at a price
of $0.125 each. This Placement will result in JAG seeing its
interest in Olitra being diluted from 76.46% to 67%, or a
9.46%.
The Flow-through portion of the Placement, in this instance
$600,000, will be invested on Olitra's Oil and Gas properties in
Temiscouata, Lac St-Jean and Charlevoix. JAG & Olitra have been
active in these regions since 2006. For more information on the
exploration programs completed to date and the recently obtained
results, the reader is invited to visit JAG or Olitra's Web
Site.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Contacts: J.A.G. Mines Ltd. Pierre Gevry President 514-849-7336
514-849-9260 (FAX) st-jacques@qc.aira.com www.minesjag.com /
www.olitrainc.com