(via Thenewswire.ca)
Vancouver, British Columbia, January 4, 2012, Trijet Mining Corp. ("Trijet" or the "Company") (TJT.V) (TRJTF.PK) reports that the non-brokered private placement announced on October 27, 2011 has completed in two tranches on December 20, 2011 and December 28, 2011 for a total 4,380,000 units. Each unit consists of one common share and one non-transferable half common share purchase warrant enabling the placee to purchase one additional share at
.15 per share for two years for each two half warrants. The Company raised gross proceeds of $328,500 by issuing 3,285,000 Flow-Through Units at the price of
.075 and 1,095,000 Non-Flow-Through Units at the price of
.075 each as follows:
Tranche One:
The first tranche of the private placement closed on December 20th, 2011wherein the Company issued 615,000 Flow-Through Units for proceeds of $46,125 and 205,000 Non-Flow-Through Units for proceeds of $15,375. A Finder's Fee of 10% ($6,150) of all monies raised was paid to PI Financial Corp. Additionally the Company issued Broker's Warrants in favour of PI Financial Corp. consisting of 82,000 warrants at an exercise price of
.075 per warrant for a period of 2 years from closing. All common shares issued have a hold period until April 20, 2012.
Tranche Two:
The second tranche of the private placement closed on December 28th, 2011wherein the Company issued 2, 670,000 Flow Through Units for proceeds of $200,250 and 890,000 Non Flow Through Units for proceeds of $66,750. A Finder's Fee of 10% of all monies raised was paid to Macquarie Private Wealth Inc. ("Macquarie") ($24,900) and EMD Financial Inc. ("EMD") ($1,800). Additionally the Company issued Broker's Warrants in favour of Macquarie consisting of 332,000 warrants at an exercise price of
.075 per warrant for a period of 2 years from closing and EMD consisting of 24,000 warrants at an exercise price of
.075 per warrant for a period of 2 years from closing. All common shares issued have a hold period until April 28, 2012.
The proceeds from the Flow-Through portion of the offering will be used for exploration of the Company's Quebec mineral properties. The proceeds from the Non-Flow-Through portion of the offering will be used for general working capital. For more information call 604-669-4367.
On behalf of the Board,
"Paul Shatzko"
Paul Shatzko
President
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.
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