Mr. Michael Ainsworth reports
JEMI FIBRE CORP. ANNOUNCES CORPORATE UPDATE
Jemi Fibre Corp. is not proceeding with
the non-brokered private placement to sell up to 4,166,667 units at a price of
24 cents per unit, previously announced on June 27, 2014. The company has also
completed the share-for-debt exchange previously announced on May 23, 2014.
Pursuant to the exchange, the company issued 1,057,179 common shares to certain
management of the company in exchange for the elimination of $198,221.20 in debt
owed by the company. Upon completion of the exchange, the company has 47,852,480
common shares issued and outstanding.
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