11/01/2005 - 21:00

Jackson underwrites options

11/01/2005 - 21:00

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Jackson underwrites options

JACKSON Gold has entered into an underwriting agreement for the exercise of 22 million listed options that expire on January 31 with an exercise price of 20 cents each to raise about $4.4 million.

The issue has been fully underwritten by ABN AMRO Morgans Corporate Limited with support from a range of domestic and international investors including Trojan Investment Management, Patersons Securities Limited and Peter Schmidlin.

ABN AMRO Morgans will gain a 3.5 per cent commission of the total underwritten amount.

The underwriter will also gain a placement fee of 6.5 per cent on any shortfall it is required to take up.

The funds will be used for a drilling campaign on the Wallbrook Project and the surrounding South Laverton Tectonic Zone Project with the objective of significantly expanding the existing resource base, commencing in early 2005.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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