Jameson Stanford Resources, an emerging metals and minerals exploration company focused on sites in southwestern and central Utah, today reports that it has closed $500,000 of Series B Convertible Redeemable Promissory Notes ("Series B Notes") due October 31, 2015.
The Series B Notes are secured by JMSN's mining claims and mineral leases related to the Chopar Mining property, Star Mining District, located in Beaver County, Utah. The Series B Notes share the security interest on a pari passu basis with $500,000 of Series A convertible redeemable promissory notes issued on August 19, 2013, and with $500,000 of Series B Notes that are currently being offered for sale by the company on similar terms.
JMSN intends to use the proceeds of this financing primarily to fund ongoing mineral exploration activities and for general working capital purposes.
"This Series B Notes closing augments the company's capital funding for our minerals exploration activities at the Star Mountain project," JMSN president and CEO Michael Stanford stated in the news release. "We remain confident in our belief that our ongoing exploration activities at the Wild Bill Mine site will allow us to begin operations in late 2013. We are continuing our exploration activities as we secure additional financing."
For more information visit: JamesonStanford.com
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