Mr.
Christopher Chung reports
CNJ CAPITAL INVESTMENTS ANNOUNCES PRIVATE PLACEMENT
CNJ Capital Investments Inc. has arranged a non-brokered private placement offering of 85,714 common shares at a price of 35 cents per share, for gross proceeds of $29,999.90.
The private placement will be offered in reliance on prospectus exemptions, and any securities sold will be subject to a four-month statutory hold period. The private placement is not anticipated to have any material impact on the control of the company, nor is it anticipated that any new control persons would be created as a result of the private placement.
It is anticipated that Jerry Chan, a director of the company, will be the sole subscriber in the private placement for an amount of $29,999.90 for 85,714 shares. As at the date of this news release, Mr. Chan holds 1.2 million common shares of the company (18.9 per cent). If the private placement is completed as anticipated, Mr. Chan will hold 1,285,714 common shares (representing 19.98 per cent of the common shares anticipated to be outstanding upon completion of the private placement).
The proceeds of this private placement will be used only for the permitted uses of proceeds under Section 7.1 of Policy 2.4, including reasonable general and administrative expenses of the company.
The private placement is subject to the company receiving all necessary prior approvals from the TSX Venture Exchange.
About CNJ Capital Investments Inc.
CNJ is a capital pool company focused on identifying and evaluating businesses and assets with a view to completing a qualifying transaction.
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