Jetcom Announces Corporate Update
April 08 2011 - 1:05PM
Marketwired
Jetcom Inc. ("Jetcom" or the "Company") (TSX VENTURE: JTM) provides
this corporate update on its business and affairs.
Update on St. Simeon Property
On March 6, 2008, the Company announced that it had entered into
an option agreement to acquire a 100% interest in 185 mining claims
in Callieres Township, Charlevoix County, 180 km north of Quebec
City referred to as the St. Simeon Uranium Property (the
"Property"). Jetcom entered into that option agreement with the
intention of satisfying the Exchange's requirements for a Change of
Business to operate in the mining industry.
The option agreement lapsed in 2008, but was extended informally
by the Optionor into 2010. Throughout this time, the Company had
been seeking approval for the Change of Business and move forward
with the acquisition of the St. Simeon Uranium Property. The
Company contracted for and received a NI43-101 report on this
property, and presented the report and plans for the property to
the TSX Venture Exchange. The TSXV accepted the report as
"generally compliant" for a Tier 2 listing. Ultimately, with the
passage of time, the proposed transaction was postponed
indefinitely in the fourth quarter 2010. However, the Company
continues to explore interest in this sector.
The Company continues to talk to the Optionor and would consider
revisiting its position should a property of mutual interest be
securable, on terms satisfactory to management, the Optionor, and
exchange policies, and assuming appropriate technical resources and
financing can be arranged.
Business
Throughout 2010, the Company continued to investigate potential
business opportunities. However, management utilizing its
experience and knowledge in the financial services business,
incorporated JTC Capital Inc. ("JTC") which serves as a facilitator
to provide financial solutions for individuals and private
companies and helps businesses identify and use available means to
make capital available or raise capital on a more effective basis.
Fees are earned from advisory services.
Year ended December 31, 2010. For the year ended December 31,
2010, the Company had revenues of $ 184,091 and a loss of
$.0001/sh. This fee revenue (fourth quarter) was generated through
JTC . Jetcom plans to continue the JTC business in 2011, and has
allocated up to $20,000 of its working capital for that
purpose.
2011
In February 2011, the Company announced that it closed a private
placement of 3,000,000 Units (1 share and 1 warrant exercisable for
3 years @$0.15/share) for total proceeds to the Company of
$150,000. As at March 21, 2011, the Company has consolidated
working capital of $149,966.
Corporate
The Company held its Annual General Meeting of Shareholders
("AGM") on February 16, 2011. A. G. Dragone, Robert Coluccio and
Simon Clery were re-elected to the Board of Directors. John Scholz,
CA was re-elected as auditor for the Company and the Company's
Option Plan was re-approved by shareholders.
The Company's audited financial statements and management
discussion and analysis ("MD&A") and news releases may be
viewed at www.sedar.com.
Neither the 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.
Contacts: Jetcom Inc. A. G. Dragone President (416) 447-4884
(416) 447-8868 (FAX)
Jetcom Com (TSXV:JTM)
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