Vancouver, BC – Gold Jubilee Capital Corp. (TSX-V:GJB) (the “Company”) is pleased to announce that further to its news releases dated June 22, 2016, and July 18, 2016, the Company has completed a non-brokered private placement offering of 5,332,000 units of the Company at a price of $0.15 per unit for gross proceeds of $799,800. Each unit is to consist of one common share and one-half of one non-transferable share purchase warrant where one whole share purchase warrant may be exercised at the price of $0.20 per common share during a two-year term. The company also issued 7,062,766 flow-through shares of the Company at a price of $0.17 for gross proceeds of $ 1,200,670. The aggregate proceeds raised are $ 2,000,470 (the “Offering”).
In accordance with the policies of the TSX Venture Exchange, an aggregate of $45,877 in cash and 294,339 nontransferable share purchase warrants with an exercise price of $0.20 per common share and an expiry term of two years was paid by the Company to various finders regarding the Offering.
All of the securities distributed under the Offering are subject to a four-month plus a day hold period expiring November 22, 2016.
About Gold Jubilee Capital Corp.
Gold Jubilee Capital Corp. (TSX-V: GJB) is a Canadian-based junior exploration company comprised of highly qualified mining professionals with one active copper-gold exploration project, the Pyramid project, located in northwestern British Columbia.
BY ORDER OF THE BOARD OF DIRECTORS
CEO and Director
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.
This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, execution of the Option Agreement, the making of cash payments and share payments, obtaining TSX-V approval, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements and Gold Jubilee undertakes no obligation to update such statements, except as required by law.