Business
Jayden Closes 1st Tranche of Private Placement
(TheNewswire) Vancouver, B.C. - TheNewswire - November 13, 2020; Jayd...
About this update from Jayden Resources Inc
[{"type":"text","content":"Jayden Closes 1st Tranche of Private Placement\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n Vancouver, B.C. -\n \n \n TheNewswire -\n \n \n November 13, 2020; Jayden Resources Inc.\n(\"Jayden\" or the \"Company\")\n \n \n (\n \n \n TSXV:JDN)\n \n \n (OTC:PNMLF)\n \n \n Further to its new release dated September 9, 2020\nwherein the Company announced a unit offering (the\n\"Offering\") consisting of 11,000,000 units (the\n\"Units\") at a price of $0.05 per Unit for gross proceeds of\nup to $550,000.\n \n \n \n \n The Offering was oversold with 11,800,000 Units being\nplaced for total proceeds of $590,000. Jayden has closed a first\ntranche of the Offering totaling $465,000 by issuing 9,300,000 Units\nof the Company.\n \n \n \n \n Each Unit consisted of one common share of the Company\n(a \"Share\") and one transferable common share purchase\nwarrant (a \"Warrant\"). Each Warrant entitles the holder to\npurchase one additional Share (a \"Warrant Share\") of the\nCompany at a price of $0.07 per Warrant Share until November 5, 2022. \nNo finder's fees or commissions were paid in relation to the\nOffering.\n \n \n \n \n The remaining 2,500,000 Units representing $125,000 of\nthe Offering will be issued in a second tranche upon the Company\nreceiving final TSXV acceptance of a property acquisition announced on\nSeptember 4, 2020, the $125,000 representing the first year property\ncommitments and expenditures on the Property.\n \n \n \n \n As per the Company's November 5,\n2020 news release, the Company has received conditional approval by\nthe TSXV for the acquisition and is in the process of rectifying\ndeficiencies and hopes to receive final approval in due time.\n \n \n \n \n The Offering's Shares and any Warrant Shares are\nsubject to a four-month-plus-one-day hold period expiring on March 6,\n2021.\n \n \n The proceeds from the Offering will be\nused to pay down a portion of the Company's current debt and for\ngeneral working capital purposes.\n \n \n \n \n Share for Debt Transaction\n \n \n \n \n Further to the Company's news release dated September\n14, 2020 announcing that it had entered into agreements to settle\napproximately $67,000 in debt by issuing up to 1,340,000 common shares\nat a price of $0.05 per share.\n \n \n \n \n The Company has closed the transaction and issued\n1,300,000 common shares (the \"Shares\") at a...