JRTL Capital Corp.

September 25, 2009 15:33 ET

JRTL Capital Corp.: Update to Proposed Qualifying Transaction

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 25, 2009) - Further to JRTL Capital Corp. (TSX VENTURE:JRT.P) news release of August 28, 2009, at which time the Company announced a proposed acquisition of a 60% interest in the Swift Katie property in Selmo, BC, as its proposed acquisition of a significant asset as a Qualifying Transaction, as that term is defined in the CPC Listings Policy of the Exchange, the Company reports as follows:

The Company has commissioned an independent 43-101 Report covering the Swift Katie property which has been filed with the Exchange for review and comment.

The Company has filed with the Exchange a Filing Statement which discloses the proposed acquisition of the Swift Katie property, the proposed escrow transfer of 2,000,000 shares to incoming principals, the proposed changes in management of the Company which will result in Mr. Ron Shenton, Dr. Luca Riccio, Dr. Sadek El-Alfy and Brian Roberts being appointed as directors and officers of the Company.

The Company is also intending to proceed with a non-brokered private placement of 7,500,000 units at a price of $0.10 per unit to raise gross proceeds of $750,000. A unit will consist of one share and one warrant. One warrant entitles the holder to acquire one additional share at a price of $0.15 for a period of one year. Proceeds from the placement and existing funds on hand will be applied to costs to complete the Qualifying Transaction, estimated at $75,000; administrative expenses for a period of twelve months - $300,000; exploration and development costs on the Swift Katie property (Phase 1) - $270,000; property option payments - $35,000; and to unallocated working capital - $197,000.

Completion of the Qualifying Transaction and related matters remain subject to Exchange approval.

On behalf of the Board,


This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. The Company disclaims any intention or obligation to revise or update such statements.

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.

Contact Information

  • JRTL Capital Corp.
    James G. Pettit
    (604) 687-3376
    (604) 678-2532 (FAX)