Vancouver, British Columbia--(Newsfile Corp. - February 24, 2016) - CDN Jade Mine Resources Inc. ("CJM" or the "Company") is pleased to announce its plan to acquire the domain name, JADE.COM (the "Intellectual Property"), for the sum of USD$1,250,000. The completion of the acquisition of the Intellectual Property is subject to certain closing conditions and is expected to close on or about February 29, 2016.
The Company also announces a non-brokered private placement to raise up to CAD$1,800,000 (the "Financing"). The Financing will consist of up to 25,714,286 common shares (the "Shares") at a price of $0.07 per Share. The majority of the proceeds of the Financing will be used to acquire the Intellectual Property and any remainder will be used for general working capital purposes. A finder's fee may be payable from the proceeds of the proposed Financing. All securities issued pursuant to this Financing will be subject to a 4-month and one day hold period from the date of closing.
Mr. Shao Long Li, Director and Chief Executive Officer of CDN Jade Mine Resources, commented, "We are extremely pleased to announce our plans to acquire JADE.COM; this could significantly expand our customer reach by developing a strong platform for the global trade of jade."
About CDN Jade Mine Resources Inc.
CJM is engaged in the exploration, mining, sale and export of nephrite jade mined in British Columbia. An estimated three quarters of the world's nephrite jade lies in British Columbia's mountains, and is primarily sought after by Asian buyers. Jade is the toughest natural stone in the world and has a long history of being used for jewellery, carving and tool making, and the finest nephrite jade is used as gemstones and transformed into artwork.
CJM has a mining lease agreement in place with Green Mountain Gemstones Inc., a private jade mining company, whereby the Company has the exclusive right to mine the Ogden Mountain jade mine in British Columbia until December 31, 2020, with the option to renew such mining lease for a further five years. The Company plans to seek further strategic partnerships to expand its operations in the nephrite jade industry, including operating additional jade mines in Canada and elsewhere.
The senior management of CJM has extensive experience in the jade industry with expert knowledge of its history, geological properties, deposit identification and mining processes, to expertise in the marketing, product development and export of jade. The Company's management has expertise and strong connections to the industry both in BC and in Asia making them ideally suited to advance BC's jade industry in China and Asia where the stone has been admired and revered for over 8000 years.
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ON BEHALF OF THE BOARD OF DIRECTORS OF
CDN JADE MINE RESOURCES INC.
Shao Long Li
President & CEO
For Further Information, please contact:
Charles Lee
(604) 233-0753
CDN Jade Mine Resources Inc.
Suite 307 - 4940 No. 3 Road
Richmond, BC V6X 3A5
Canada
FORWARD-LOOKING INFORMATION: Certain statements contained in this release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated", "anticipates", and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Forward-looking information in this news release does or may include, but is not limited to, the Company's objectives, goals or future plans. Actual future results may differ materially. In particular, this release contains forward-looking information relating to our proposed acquisition of the Intellectual Property, the Financing and the business of the Company. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, uncertainties relating to the availability and costs of financing, changes in equity markets, delays in the development of projects and the other risks involved in the mineral exploration and development of jade. Specifically, mining and exploration is subject to numerous risks factors as 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 as of the date of this 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.
This news release, required by applicable Canadian laws, is not for distribution to U.S. news services or for dissemination in the United States and does not constitute an offer of securities for sale in the United States. These securities have not and will not be registered under United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States or to a U.S. Person unless so registered, or an exemption from registration is relied upon.
CAUTIONARY DISCLAIMER STATEMENT: The Company is a reporting issuer and not listed on any stock exchange. No stock exchange nor any regulation services provider accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
