J2 Metals Inc. Completes $3.8 Million Upsized Private Placement

Core Viewpoint - J2 Metals Inc. has successfully closed the second and final tranche of its non-brokered private placement financing, raising a total of $3,800,000, which was upsized from an initial target of $2,500,000 [1][2]. Financing Details - The second tranche consisted of 6,577,800 Subscription Receipts, generating gross proceeds of $1,644,450, while the first tranche raised $2,155,550 [2]. - Each Subscription Receipt will convert into one common share and one-half of a common share purchase warrant, with the whole warrant allowing the purchase of one common share at an exercise price of $0.40 for 24 months [3]. Use of Proceeds - The net proceeds from the Subscription Receipt Offering will be utilized for general corporate purposes, including advancing the Miniac Project in Quebec's Abitibi Greenstone Belt [4][3]. Insider Participation - Insiders of the Company, including Thomas Lamb, Toby Pierce, and Graham Giles, participated in the second tranche, purchasing a total of 604,000 Subscription Receipts for an aggregate amount of $151,000 [7]. Project Overview - J2 Metals Inc. is focused on gold and silver exploration projects in established mining jurisdictions, including Mexico, Québec, and Alaska. The Miniac Project has shown strong discovery potential with reported grades of up to 4.8 g/t gold and 6.9% zinc [8]. - The Napoleon Project in Alaska is located in a prolific placer gold camp, with historical drilling indicating significant mineralization potential [8].