Business
Jazz Announces Closing of First Tranche of Private Placement of Units and Partial Redemption of Debentures
(TheNewswire) Vancouver, British Columbia, Canada TheNewswire - ...
About this update from Jzr Gold Inc.
[{"type":"text","content":"Jazz Announces Closing of First Tranche of Private Placement of Units and Partial Redemption of Debentures\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n Vancouver, British Columbia, Canada\n \n \n TheNewswire -\n \n \n December 3, 2021\n \n \n –\nJazz Resources 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 portion of its previously disclosed non-brokered private\nplacement offering (the “\n \n \n Offering\n \n \n ”) of units (the “\n \n \n Units\n \n \n ”) by issuing\n \n \n 1,033,333\n \n \n Units at a price\nof $0.75 per Unit for gross proceeds of $\n \n \n 785,000\n \n \n .  Each Unit is comprised of\none common share (a “\n \n \n Share\n \n \n ”) in the capital of the Company and\none share purchase warrant (a “\n \n \n Warrant\n \n \n ”).  Each Warrant shall entitle the\nholder to acquire one additional common share in the capital of the\nCompany at a price of $1.10 per Share for a period of 18 months after\nthe date of issuance of the Warrants.  The Warrants will be subject\nto an acceleration clause whereby, in the event that the volume\nweighted average trading price of the Company’s common shares traded\non TSX Venture Exchange, or any other stock exchange on which the\nCompany’s common shares are then listed, is equal to or greater than\n$1.50 for a period of 15 consecutive trading days, the Company shall\nhave the right to accelerate the expiry date of the Warrants by giving\nwritten notice to the holders of the Warrants that the Warrants will\nexpire on the date that is not less than 30 days from the date that\nnotice is provided by the Company to the warrant holders.  The Units,\nShares, Warrants and any Shares issued upon the exercise of the\nWarrants will be subject to a hold period of four months and one day\nfrom the date of issuance.\n \n \n \n \n The Company will use the net proceeds of the Offering\nto redeem a portion of the June Debentures (as defined below), for\ndevelopment and exploration work on the Vila Nova gold project located\nin the state of Amapa, Brazil and for general working capital\npurposes.\n \n \n \n \n The Company also wishes to announce that it has\nredeemed ...