Tuesday, 22 May 2007

JER Over Subscribed On Second Tranche of Private Placement

JER has just announced the closing of the second tranche of its non brokered private placement.

The Company sold 2.4 million units at a price of $0.60 per unit for gross proceeds of $1.4 million. The total financing resulted in the Company issuing 4.47 million units for total gross proceeds of $2.68 million. The financing was over subscribed by 968,667 units.