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Jinhua Capital Corp (3)
Symbol	JHC
Shares Issued	48,339,192
Close 2023-11-24	C$ 0.045
Market Cap	C$ 2,175,264
Recent Sedar+ Documents

Jinhua closes first tranche of private placement

2023-12-04 17:46 ET - News Release

Subject: Jinhua - News Release announcing Closing of First Tranche of Non-brokered Private Placement (Draft) Word Document File: '\\swfile\EmailIn\20231204 143752 Attachment Jinhua - News Release announcing Closing of First Tranche of Non-brokered Private Placement (Draft).docx' LEGAL_42638059.2 Jinhua Capital Corporation TSXV: JHC JINHUA CAPITAL CORPORATION 1500 - 1055 West Georgia Street Vancouver, British Columbia V6E 4N7 Jinhua Closes First Tranche of Previously Announced Non-Brokered Private Placement for Gross Proceeds of $1,220,999.96 NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES VANCOUVER, BC - December 4, 2023 - Jinhua Capital Corporation (TSX-V: JHC) (the "Company" or "Jinhua") is pleased to announce that, further to its news release dated November 6, 2023 announcing a private placement (the "Offering"), the Company closed the first tranche of the Offering (the "First Tranche") on November 14, 2023 and has received gross proceeds of $1,220,999.96 by the issuance of 11,916,666 flow through units (the "FT Units") and 10,120,000 non flow-through units (the "NFT Units"). FT Units were issued at $0.06 per FT Unit and NFT Units were issued at $0.05 per NFT Unit. Each FT Unit consists of one flow-through common share of the Company as defined in the Income Tax Act (Canada) and one-half of a common share purchase warrant (each whole warrant, a "FT Warrant"). Each whole FT Warrant will entitle the holder to purchase one additional non-flow-through common share in the capital of the Company (a "FT Warrant Share") at a price of $0.10 per FT Warrant Share for a period of 18 months from the closing of the Offering, subject to acceleration of the expiry date to 15 days in the event that the price of the Company's common shares close at or above $0.25 for 10 consecutive trading days. Each NFT Unit will consist of one non-flow-through common share in the capital of the Company (a "NFT Share") and one share purchase warrant (a "NFT Warrant"). Each NFT Warrant will entitle the holder to purchase one additional non-flow-through common share in the capital of the Company (a "NFT Warrant Share") at a price of $0.05 per NFT Warrant Share for a period of six (6) months from the closing of the Offering. The First Tranche's gross proceeds raised from the issuance of the FT Units will be used by the Company to incur exploration expenditures on the Company's resource claims in the province of Quebec and will constitute "Canadian exploration expenses" as defined in the Income Tax Act (Canada). the First Tranche's net proceeds raised from the issuance of the NFT Units will be used by the Company for exploration and development activities and for working capital and general corporate purposes. The Company has paid $21,920 in finders fees to eligible finders in connection with the First Tranche, being 8% of the aggregate proceeds from the sale FT Units and NFT Units to subscribers introduced by such finders. The Company has also issued 485,467 finders warrants (each a "Finders Warrant") and 485,467 finders shares, each representing 4% of the aggregate proceeds from the sale FT Units and NFT Units to subscribers introduced by such finders. Each Finders Warrant shall entitle the holder thereof to purchase one additional common share at a price of $0.10 for 12 months from the closing of the Offering. The securities issued in the Offering are subject to a four month and one (1) day hold period, expiring on March 15, 2024. This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. About the Company Jinhua is a mineral exploration company focused on exploring the Pluto Gold and Base Metals Property located in the Dolomieu and Daubree Townships of Quebec and the Indigo Graphite Project in the Saint-Michel-des-Saints municipality of Quebec. From time to time, the Company may also evaluate the acquisition of other mineral exploration assets and opportunities. For further information, please contact: Chris Thomas, Interim CEO and Director e: Thomas.chris250@gmail.com Forward-Looking Statements This news release contains statements and information that, to the extent that they are not historical fact, constitute "forward-looking information" within the meaning of applicable securities legislation. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information, including, but not limited to, statements relating to the Company's financial performance, business development, results of operations, and those listed in filings made by the Company with the Canadian securities regulatory authorities (which may be viewed at www.sedarplus.ca). Accordingly, readers should not place undue reliance on any such forward-looking information. Further, any forward-looking statement speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company's management to predict all of such factors and to assess in advance the impact of each such factor on the Company's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. The Company does not undertake any obligation to update any forward-looking information to reflect information, events, results, circumstances or otherwise after the date hereof or to reflect the occurrence of unanticipated events, except as required by law including securities laws. 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.