J2 Metals Inc. Announces Closing of Private Placement

Executive Summary

• J2 Metals Inc. closed its previously announced non‑brokered private placement, issuing 3,333,333 subscription receipts at $0.12 each for total gross proceeds of $400,000.
• Each receipt converts after a 4‑month escrow release condition into one common share and one warrant to purchase an additional share at $0.25 exercise price, exercisable for 24 months.
• Net proceeds are intended for general corporate purposes; the offering remains subject to final TSX Venture Exchange acceptance and payment of finders’ fees.

Key Details

• Subscription Receipts Issued: 3,333,333 units at $0.12 per receipt.
• Aggregate Gross Proceeds: $400,000 placed in escrow.
• Conversion Terms: After a 4‑month period from closing, each receipt converts into one common share and one warrant (exercise price $0.25, exercisable for 24 months).
• Escrow Condition: Funds released to the company only upon satisfaction of the 4‑month condition; otherwise returned with accrued interest and receipts cancelled.
• Use of Proceeds: General corporate purposes.
• Finders’ Fees: To be paid in connection with the offering.
• Regulatory Subjectivity: Offering pending final acceptance by the TSX Venture Exchange.

Notable Quotes

(No direct quotes were provided in the release.)