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News 2006

CJGC Receives $1.5 million from Private Placement Escrow

September 25, 2006

Christopher James Gold Corp. (the “Company”) announces that it has issued 3,750,000 units, and received from escrow gross proceeds of $1,500,000, on the conversion of subscription receipts previously issued in its brokered private placement announced on August 30, 2006 and July 31, 2006.

Each unit comprises one common share and one transferable warrant to purchase an additional common share for a period of two years at a price of $0.55.

A commission of 7% of the proceeds of the offering was paid in cash and units to Pacific International Securities Inc., the Company’s agent in the offering.  The agent was also paid compensation options equal to 8% of the number of units sold.  Each compensation option is exercisable at a price of $0.60 for two years into one common share of the Company.

All securities issued pursuant to the private placement are subject to a hold period expiring on December 31, 2006.

The proceeds of the offering will be used to fund the Company’s exploration projects and for working capital.

About Christopher James Gold Corp.

Christopher James Gold Corp. is a Canadian mineral exploration company trading on the TSX Venture Exchange, under the symbol “CJG”.

The Company holds interests in a large portfolio of gold projects in British Columbia, Nevada and Mexico:

  • Most notably, as announced June 20, 2006,  it has the exclusive option to acquire all of the shares of  Guardsmen Resources Inc. (“Guardsmen”), a private company that owns a number of highly-prospective properties in the Toodoggone mining district in northern British Columbia, including the high-grade Ranch gold and copper project.  

    The Company recently received regulatory approval of its option agreement with the Guardsmen shareholders and expects to close shortly the first tranche of payments required to be made to them under the agreement.
  • In Durango State, Mexico, the Company has an option to acquire up to a 65% interest in Chesapeake Gold Corp.’s Cucaracha Dorada gold project.
  • In Nevada, the Company is currently conducting first-phase exploration under option on the Olympic-Sun and Cedar Mountain gold and silver projects.
  • In southern British Columbia, it owns 100% of the copper and gold rights to the historic Craigmont mine, as well as the Brassie Creek, Big Kidd, and Portage Lake gold properties. 

The Company has assembled a strong management team with extensive experience in project generation and development, a proven track record of exploration capital fundraising, and extensive international alliances. 

Visit our website at www.christopherjamesgold.com  

Christopher James Gold Corp.
Max Baker, President

FURTHER INFORMATION
Christopher James Gold Corp.
Max Baker, President
John Glanville, Investor Relations
Tel: 604 408 8829
Email: info@christopherjamesgold.com

This news release contains forward-looking statements.  Forward-looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expects”, “plans”, “anticipates”, “believes”, “estimates”, “predicts”, “potential” or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein.  Except as required by applicable law, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results. Readers are referred to the sections entitled “Risk Factors” in the Company's periodic filings with the British Columbia Securities Commission, which can be viewed at www.SEDAR.com.

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.

The TSX Venture Exchange has not reviewed and does not accept responsibility
for the adequacy or accuracy of the contents of this news release.