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Gold/Mining/Energy : JABA INC.(c.jba)

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To: ubetcha who wrote (1034)	2/11/2003 9:23:44 AM
From: Chuca Marsh	of 1044

& 30 cents early on target: IMHO Stockwatch News Item Consolidated Jaba Inc (C-JBA) - News Release Cons Jaba to raise $660,000 in unit financing Consolidated Jaba Inc JBA Shares issued 13,927,658Feb 7 2003 close $ 0.15 Monday February 10 2003News Release Mr. Paul Matysek reports JABA ARRANGES $660,000 PRIVATE PLACEMENT FUNDING Consolidated Jaba has arranged a non-brokered private placement of 5.5 million units at a price of 12 cents per unit for gross proceeds of $660,000. Each unit will consist of one common share and one non-transferable share purchase warrant. Each warrant will entitle the holder to purchase one additional share at a price of 18 cents for a period of one year. The warrants will also be subject to accelerated expiry, if at any time after the required four-month holding period the common shares of the company trade for 10 consecutive trading days at not less than 30 cents based on the closing price of the common shares on each such trading day. The company will then have the option to give notice to holders of the warrants that the warrants will expire in 30 trading days. The company will pay a finders' fee of 8 per cent cash on the gross proceeds of the offering and 10 per cent finder's warrants exercisable for one year at a price of 18 cents. This offering replaces the one announced in Stockwatch Oct. 25, 2002, and is subject to TSX Venture Exchange approval. The proceeds of this placement will be used to advance Jaba's portfolio of drill-ready gold, silver and base metal prospects and general working capital. For more information please contact Anna Maria McClenaghan (604) 328-9161,or Jim Briscoe (520) 327-7440. (c) Copyright 2003 Canjex Publishing Ltd. stockwatch.com

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