VANCOUVER, BC / ACCESSWIRE / June 25, 2014 / Jemi Fibre Corp. (TSX-V: JFI) ("Jemi Fibre" or the "Company") is pleased to announce that it has completed the second and final tranche, in the amount of $500,000, of a $3,000,000 non-brokered, private placement financing, previously announced on February 13, 2014 and May 23, 2014 (the "Private Placement").
A total of 2,666,666 units ("Units") were issued at a price of $0.1875 per Unit in connection with the completion of the second tranche of the Private Placement. Each Unit consists of one common share of the Company and one full share purchase warrant. Each warrant will entitle the purchaser to purchase an additional Jemi Fibre common share at a price of $0.25 per share for a period of five years following the closing of the Private Placement.
The net proceeds of the Private Placement will be used for working capital. Both the common shares issued as part of the Units and any common shares issued upon exercise of the warrants, are subject to a hold period and may not be traded until October 25, 2014, except as permitted by applicable securities legislation and the rules of the TSX Venture Exchange. No finder's fees are payable in association with the Private Placement.
With completion of the Private Placement, the Company has a total of 46,795,301 common shares issued and outstanding.
ON BEHALF OF THE BOARD OF DIRECTORS
JEMI FIBRE CORP.
CEO and President
For further information, please contact:
Brent Lokash, EVP
Tel: 1 604 862-5190
Email: [email protected]
About Jemi Fibre Corp.
Jemi Fibre Corp. is a manufacturer of specialty lumber products and treated wood products, is an owner of private timberlands and has logging operations in British Columbia. The Company is listed on the TSX-V ("JFI").
Special Note Regarding Forward-Looking Statements
Certain statements included herein constitute forward-looking statements. The words "expect", "intend", "anticipate", "propose" and "may" and similar expressions identify forward-looking statements. Forward-looking statements include, among other things, statements regarding future financings, and the development and operation of Jemi Fibre's business. Forward-looking statements are necessarily based upon a number of estimates and assumptions. While such estimates and assumptions are considered reasonable by the management teams of Jemi, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks and accordingly may not occur as described herein or at all. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements.
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 news release.
SOURCE: Jemi Fibre Corp.