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Jaguar Mining Announces Closing of Non-Brokered Private Placement
Jaguar Mining Announces Closing of Non-Brokered Private Placement Canada NewsWire ...
About this update from Jaguar Mining Inc.
[{"type":"text","content":"\n\n\n\nJaguar Mining Announces Closing of Non-Brokered Private Placement\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, June 15, 2017\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n\nTSX:JAG\n\n\n\n\nTORONTO, June 15, 2017 /CNW/ - Jaguar Mining Inc. (\"Jaguar\" or the \"Company\") (TSX:JAG) today announced that has closed its previously announced non-brokered private placement financing (the \"Offering\").  Pursuant to the Offering, the Company has issued 17,624,728 common shares (the \"Shares\") at a price of C$0.44 per share for gross proceeds of approximately US$5.9 million. The Shares are subject to a four-month hold period. \n\nNet proceeds from the sale of the Shares will be used for continuing capital investment programs and working capital needs at the Company's Brazilian operations located in Minas Gerais, Brazil.\n\nThe Offering constitutes a related party transaction within the meaning of Multilateral Instrument 61-101 (\"MI 61-101\") as certain insiders of the Company subscribed for Shares. The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the participation in the Offering by insiders does not exceed 25% of the market capitalization of the Company, as determined in accordance with MI 61-101. The Company did not file a material change report more than 21 days before the closing of the Offering as the details of the aforementioned insiders' participation were not settled until shortly prior to the closing of the Offering, and the Company wished to close the Offering on an expedited basis.\n\nAbout Jaguar Mining Inc.Jaguar Mining Inc. is a Canadian-listed junior gold mining, development, and exploration company operating in Brazil with three gold mining complexes, and a large land package with significant upside exploration potential from mineral claims covering an area of appr...