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

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To: Alex who wrote (309)	3/21/1998 5:17:00 AM
From: Alex	Read Replies (1) of 1044

JABA Completes Cdn$208,000 Private Placement TUCSON, ARIZONA--JABA Inc. (ASE-JBA) is pleased to announce that on March 17, 1998, the Company closed the previously announced non-brokered private placement of Cdn$208,000. A total of 1.04 million units at a price of Cdn$0.20 per unit were issued with each unit consisting of one common share and one share purchase warrant exercisable at Cdn$0.26 for a period of 18 months. The proceeds from this placement will be used for general working capital and for further negotiations on potential new joint ventures. James A. Briscoe, Chief Executive Officer John M. Guilbert, Chairman of the Board -30- FOR FURTHER INFORMATION PLEASE CONTACT: JABA Inc. James A. Briscoe Chief Executive Officer or John M. Guilbert Chairman of the Board (520) 327-7440 or 1-800-220-8143 (520) 327-7450 (FAX) jaba.com The Alberta Stock Exchange has neither approved nor disapproved the information contained herein.

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