Form 8-K NEW JERSEY MINING CO For: Mar 29

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

Current Report

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported):  

March 29, 2017

Commission file number: 000-28837

NEW JERSEY MINING COMPANY

(Exact Name of Registrant as Specified in its Charter)

Idaho	82-0490295
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

201 N. 3rd Street, Coeur d’Alene, ID	83814
(Address of principal executive offices)	(zip code)

Registrant's telephone number, including area code: (208) 625-9001

N/A

(Former Name or Former Address if Changed Since Last Report)

Check the appropriate box below if the Form 8K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[  ] Written communications pursuant to Rule 425 under the Securities Act (17CFR230.425)

[  ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17CFR 240.14a-12)

[  ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[  ] Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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Item 2.04 Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement.

On March 28, 2017, John Swallow, the President and CEO of New Jersey Mining Company (the “Company”), exercised his option to convert a portion of his note with the Company under the terms and conditions of the note allowing for conversion upon a qualified financing. Mr. Swallow elected to convert US $100,000 of the existing note on the same terms of the recently completed financing (discussed more below in Item 3.02). The conversion reduced the Company’s debt balance by $100,000. Mr. Swallow was issued 500,000 units, which were comprised of 1,000,000 shares and 500,000 warrants exercisable at a price of US $0.20 for three years (ending March 28, 2020). 

Item 3.02 Unregistered Sales of Equity Securities.

On March, 28, 2017, the Company closed a private placement consisting of a total of 4,250,000 units sold at a price of US $0.20 per unit, which resulted in gross proceeds to the Company of US $850,000.  No commissions will be paid on the sale.  Each unit consisted of two shares of common stock and one common stock purchase warrant exercisable at a price of US $0.20 for a period of 36 months (ending March 28, 2020).

H&H Metals Corp. purchased 1,250,000 units, comprised of 2,500,000 shares and 1,250,000 warrants, for a total of US $250,000, and a strategic accredited investor purchased 2,500,000 units, comprised of 5,000,000 shares and 2,500,000 warrants, for a total of US $500,000. John Swallow converted $100,000 of debt owed to him and was issued 500,000 units (as described in more detail above in Item 2.04). In total, the Company issued an aggregate of 4,250,000 units, comprised of 8,500,000 common shares and 4,250,000 warrants.

The above-described sale and issuance of the units, common shares and warrants (and the issuance of shares of common stock upon exercise thereof) were not registered under the Securities Act of 1933, as amended (“Securities Act”), or the securities laws of any state, are subject to resale restrictions and may not be offered or sold in the United States absent registration under the Securities Act. The foregoing sale of securities has been determined to be exempt from registration in reliance on Section 4(a)(2) of the Securities Act and the safe harbor provided by Rule 506(b) of Regulation D promulgated thereunder, as transactions by an issuer not involving a public offering, in which the investors are accredited and have acquired the securities for investment purposes only and not with a view to or for sale in connection with any distribution thereof.

Item 7.01 Regulation FD Disclosure.

On March 28, 2017, the Company issued a press release entitled “New Jersey Mining Company Closes Private Placement.” A copy of the press release is attached as Exhibit 99.1 and is incorporated herein by reference. The information in this Current Report on Form 8-K (including the exhibits) is furnished pursuant to Item 7.01 and shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. This Current Report on Form 8-K will not be deemed an admission as to the materiality of any information in the Report that is required to be disclosed solely by Regulation FD.

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Item 9.01. Financial Statements and Exhibits.

d) Exhibits
99.1		Press Release, dated March 28, 2017, entitled “New Jersey Mining Company Closes Private Placement.”* *The foregoing exhibit relating to Item 7.01 is intended to be furnished to, not filed with, the SEC pursuant to Regulation FD.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.  

NEW JERSEY MINING COMPANY

By:   /s/ John Swallow

John Swallow

Its:  President & CEO

Date: March 30, 2017

Exhibit 99.1

New Jersey Mining Company Closes Private Placement

COEUR D'ALENE, Idaho, March 28, 2017 (GLOBE NEWSWIRE) -- New Jersey Mining Company (OTCQB: NJMC) (“NJMC” or the “Company”) is pleased to announce it has closed a $850,000 private placement at the same terms as the placement announced in the Company’s press release dated March 6, 2017.

NJMC CEO and President John Swallow stated “We are fortunate that the combination of an experienced team, quality assets and an achievable cash-flow based business approach has allowed us to focus on quality over quantity. This additional and final investment further supports our approach toward operations, debt reduction and mine-life expansion at the Golden Chest.

In keeping with our balanced approach, the last placement was comprised largely of management and existing shareholders. In contrast, this placement is comprised of $500,000 from one strategic individual investor, $250,000 from our concentrate broker (H&H Metals Corp.), and me.

The individual investor is an experienced industry veteran with an extensive business development and corporate finance background and we welcome him as a fellow shareholder. H&H has been great to work with – especially at this stage of our business plan.  We look forward to a long and mutually beneficial partnership with Chris and the folks at H&H.”

Christopher Holme, principal at H&H commented “It has been a pleasure working with John and Grant and we look forward to many years of business together as they expand operations at the Golden Chest and look toward Butte Highlands. We appreciate the opportunity to invest alongside Company management and directors.”

The private placement consisted of 4,250,000 units at a price of $0.20 per unit for a gross proceed of $850,000.  Each unit consisted of two common shares and one share purchase warrant, each warrant entitles its holder to purchase one common share at a price of $0.20 per share for a period of 36 months ending March 28, 2020.

NJMC President and CEO John Swallow, also participated in this placement, subscribing for 500,000 units - paid in the form of $100,000 in debt reduction of loans made by Mr. Swallow to the Company.

New Jersey Mining Company     Ÿ     201 N. 3^rd Street     Ÿ     Coeur d’Alene, Idaho 83814

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About New Jersey Mining Company

New Jersey Mining Company is headquartered in north Idaho, where it is currently in production at its Golden Chest Mine. It is deploying its mining and milling expertise to build a portfolio of advanced-stage assets with near-term cash flow potential and leverage to higher gold prices.

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NJMC owns and operates the Golden Chest Mine project where open pit mining is underway and underground mining is expected to resume early this year.

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NJMC also holds a 50-percent interest in the fully-permitted Butte Highlands Gold Project.

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NJMC built and is majority owner and operator of the New Jersey Mill, a 360-tonne per day flotation mill and cyanide leach plant.

Company assets were developed with more than $50-million of investment dollars from New Jersey and other companies. Management owns more than 17-percent of NJMC stock and has participated in prior financings and made purchases in the open market.

The Company’s common stock trades on the OTC-QB Market under the symbol “NJMC.”

For more information on New Jersey Mining Company go to www.newjerseymining.com or call:

Monique Hayes, Corporate Secretary/Investor Relations

Email: [email protected]

(208) 625-9001

Forward Looking Statements

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended that are intended to be covered by the safe harbor created by such sections. Such statements are based on good faith assumptions that New Jersey Mining Company believes are reasonable but which are subject to a wide range of uncertainties and business risks that could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Such factors include, among others, the company’s ability to meet the CSE listing application requirements, the risk that anticipated production levels are not attained, the risk that the mine plan changes due to rising costs or other operational details, the risk that the Company is unable to obtain a listing on the CSE, sufficient funds necessary to resume underground mining at the Golden Chest, the risk that gold recovery percentages are lower than expected, the risks and hazards inherent in the mining business (including risks inherent in developing mining projects, environmental hazards, industrial accidents, weather or geologically related conditions), changes in the market prices of gold and silver and the potential impact on revenues from changes in the market price of gold and cash costs, a sustained lower price environment, as well as other uncertainties and risk factors. Actual results, developments and timetables could vary significantly from the estimates presented. Readers are cautioned not to put undue reliance on forward-looking statements. NJMC disclaims any intent or obligation to update publicly such forward-looking statements, whether as a result of new information, future events or otherwise.

New Jersey Mining Company     Ÿ     201 N. 3^rd Street     Ÿ     Coeur d’Alene, Idaho 83814

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