By Sheri Kasprzak
New York, Aug. 25 - Jinshan Gold Mines Inc. negotiated a C$9.6 million private placement.
The company plans to sell 8 million units at C$1.20 each on a non-brokered basis.
The units are comprised of one share and one half-share warrant. Each whole warrant is exercisable at C$1.45 for 18 months.
Proceeds will be used for the development and construction of the company's ChangShanHao open-pit gold mine in China and for general corporate purposes.
Jinshan, based in Vancouver, B.C., is a gold exploration and development company.
| Issuer: | Jinshan Gold Mines Inc.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$9.6 million
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| Units: | 8 million
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| Price: | C$1.20
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | 18 months
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| Warrant strike price: | C$1.45
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| Placement agent: | Non-brokered
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| Pricing date: | Aug. 25
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| Stock symbol: | TSX Venture: JIN
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| Stock price: | C$1.23 at close Aug. 25
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