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JTM Jetcom Com

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Share Name Share Symbol Market Type
Jetcom Com TSXV:JTM TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Jetcom Announces Corporate Update

08/04/2011 6:05pm

Marketwired Canada


Jetcom Inc. ("Jetcom" or the "Company") (TSX VENTURE:JTM) provides this
corporate update on its business and affairs.


Update on St. Simeon Property

On March 6, 2008, the Company announced that it had entered into an option
agreement to acquire a 100% interest in 185 mining claims in Callieres Township,
Charlevoix County, 180 km north of Quebec City referred to as the St. Simeon
Uranium Property (the "Property"). Jetcom entered into that option agreement
with the intention of satisfying the Exchange's requirements for a Change of
Business to operate in the mining industry.


The option agreement lapsed in 2008, but was extended informally by the Optionor
into 2010. Throughout this time, the Company had been seeking approval for the
Change of Business and move forward with the acquisition of the St. Simeon
Uranium Property. The Company contracted for and received a NI43-101 report on
this property, and presented the report and plans for the property to the TSX
Venture Exchange. The TSXV accepted the report as "generally compliant" for a
Tier 2 listing. Ultimately, with the passage of time, the proposed transaction
was postponed indefinitely in the fourth quarter 2010. However, the Company
continues to explore interest in this sector.


The Company continues to talk to the Optionor and would consider revisiting its
position should a property of mutual interest be securable, on terms
satisfactory to management, the Optionor, and exchange policies, and assuming
appropriate technical resources and financing can be arranged.


Business

Throughout 2010, the Company continued to investigate potential business
opportunities. However, management utilizing its experience and knowledge in the
financial services business, incorporated JTC Capital Inc. ("JTC") which serves
as a facilitator to provide financial solutions for individuals and private
companies and helps businesses identify and use available means to make capital
available or raise capital on a more effective basis. Fees are earned from
advisory services.


Year ended December 31, 2010. For the year ended December 31, 2010, the Company
had revenues of $ 184,091 and a loss of $.0001/sh. This fee revenue (fourth
quarter) was generated through JTC . Jetcom plans to continue the JTC business
in 2011, and has allocated up to $20,000 of its working capital for that
purpose.


2011

In February 2011, the Company announced that it closed a private placement of
3,000,000 Units (1 share and 1 warrant exercisable for 3 years @$0.15/share) for
total proceeds to the Company of $150,000. As at March 21, 2011, the Company has
consolidated working capital of $149,966.


Corporate

The Company held its Annual General Meeting of Shareholders ("AGM") on February
16, 2011. A. G. Dragone, Robert Coluccio and Simon Clery were re-elected to the
Board of Directors. John Scholz, CA was re-elected as auditor for the Company
and the Company's Option Plan was re-approved by shareholders.


The Company's audited financial statements and management discussion and
analysis ("MD&A") and news releases may be viewed at www.sedar.com.


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