Jasper Mining Corporation announces conversion of debt to shares

CALGARY, Oct. 17, 2017 /CNW/ - Jasper Mining Corporation ("Jasper") (TSX-V:JSP) advises that it intends to bring before the shareholders, at the annual and special meeting, a resolution to convert certain debts of Jasper into common shares of Jasper. 

Jasper proposes to convert $100,250 of debt owing by Jasper to Xon Office Condo Ltd. into common shares of Jasper at $0.10 per share for a total of 1,002,500 common shares.  This debt relates to office rent charges commencing April 2013.  Xon Office Condo Ltd. is controlled by Gordon F. Dixon, the President and major shareholder of Jasper.

Jasper also proposes to convert $110,924.87 of debt owing by Jasper to Gordon F. Dixon Professional Corporation doing business as Dixon Law into common shares of Jasper at $0.10 per share for a total of 1,109,249 common shares.  This debt relates to secretarial and office administration charges commencing September 2012.  Gordon F. Dixon Professional Corporation is controlled by Gordon F. Dixon, the President and major shareholder of Jasper.

Jasper further proposes to convert $4,032.39 of debt owing by Jasper to Gordon F. Dixon into common shares of Jasper at $0.10 per share for a total of 40,324 common shares.  This debt relates to expenses paid on behalf of Jasper.  Gordon F. Dixon is a director and major shareholder of Jasper.

The intended resolutions are subject to such regulatory approvals as may be required.

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

SOURCE Jasper Mining Corporation