Jaxon Minerals Inc.

Jaxon Minerals Inc.

July 22, 2009 16:19 ET

Jaxon Announces a Private Placement Funding of $750,000

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 22, 2009) - Jaxon Minerals Inc. (TSX VENTURE:JAX) -

The Company announces it will enter into a non-brokered private placement of up to $750,000 comprised of $405,000 of flow through units and $345,000 of non flow through units. Each flow through unit will be priced at $0.30 and will be comprised of one flow through common share and one share purchase warrant. Each non flow through unit will be priced at $0.23 and will be comprised of one common share and one share purchase warrant. Each share purchase warrant from both the flow through units and the non flow through units will entitle the holder to purchase one common share at $0.35 per share with an expiry date of two years from the closing of the private placement; provided however that should the closing price of the Company's share price on the TSX-V be at least $0.75 per share for 20 consecutive trading days, the Company may, by notice to the warrant holders, reduce the remaining exercise period for the warrants to 30 calendar days from the date of the notice.

A finders fee will be paid on a portion of the placement commensurate with TSX.V policies.

Monies raised will be used to fund exploration on the Company's optioned Nox Fort project near Salmo, British Columbia and for general working capital.


Laurence Stephenson, PRESIDENT

This news release may contain forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in the news release may include, but is not limited to, the Company's objectives, goals or future plans. Factors that could cause actual results to differ from such forward-looking information include, but are not limited to, those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies to the date of the news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

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.

Contact Information

  • Jaxon Minerals Inc.
    Michael Dake
    (604) 608-0400 or Toll Free: (877) 608-0007
    Jaxon Minerals Inc.
    Leif Smither
    (604) 608-0400 or Toll Free: (877) 608-0007
    (604) 602-9330 (FAX)