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Jazz Announces Closing of First Tranche of Convertible Debenture Offering and Acquisition of Gravimetric Plant for the Vila Nova Gold Project
(TheNewswire) Vancouver, British Columbia, Canada – TheNewswire - May ...
About this update from Jzr Gold Inc.
[{"type":"text","content":"Jazz Announces Closing of First Tranche of Convertible Debenture Offering and Acquisition of Gravimetric Plant for the Vila Nova Gold Project\n \n \n (TheNewswire)\n \n \n \n Vancouver, British Columbia, Canada\n–\n \n \n TheNewswire -\n \n \n May 21, 2021\n \n \n – Jazz\nResources Inc. (the “\n \n \n Company\n \n \n ” or “\n \n \n JZR\n \n \n ”)\n \n \n (\n \n \n TSXV:JZR)\n \n \n is pleased to announce that it has\nclosed a first tranche of its previously announced non-brokered\nprivate placement offering (the “\n \n \n Offering\n \n \n ”) of\nunsecured convertible debentures (the “\n \n \n Debentures\n \n \n ”).  The\nprincipal sum of Debentures issued in the first tranche totals\n$1,300,000.\n \n \n \n \n The Debentures will mature on the date that is two (2)\nyears from the date of issuance and shall bear interest at a rate of\n8% per annum, payable and compounded annually.  The principal sum of\nthe Debentures, or any portion thereof, may be converted into units\n(the “\n \n \n Units\n \n \n ”) of the Company at a conversion price of $0.30 per Unit,\ncommencing on the date that is six (6) months from the date that the\nDebentures are issued (the “\n \n \n Conversion Commencement Date\n \n \n ”).  Each Unit\nshall be comprised of one common share (a “\n \n \n Conversion Share\n \n \n ”)\nand one share purchase warrant (a “\n \n \n Warrant\n \n \n ”).  Each\nWarrant shall entitle the holder to acquire one additional common\nshare (a “\n \n \n Warrant\nShare\n \n \n ”) in the capital of the Company at a\nprice of $0.30 per share for a period of eighteen (18) months from the\ndate that the Warrants are issued.  In the event the volume weighted\naverage trading price of the Company’s common shares trading on the\nTSX Venture Exchange (the “\n \n \n Exchange\n \n \n ”), or any other stock exchange on\nwhich the Company’s common shares are then listed, is equal to or\ngreater than $0.90 for a period of 30 consecutive trading days, the\nDebentures shall automatically convert into Units of the Company at a\nrate of one Unit for each $0.30 of outstanding principal sum.  If the\nDebentures are automatically converted, any accrued but unpai...