Vancouver, British Columbia--(Newsfile Corp. - June 25, 2014) -
Jemi Fibre Corp. (TSXV: 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
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
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.