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Jazz Announces the Redemption of Certain Convertible Debentures, an Increase to a Private Placement Offering of Units and the Results of the 2021 Shareholder's Meeting
(TheNewswire) Vancouver, British Columbia, Canada – TheN...
About this update from Jzr Gold Inc.
[{"type":"text","content":"Jazz Announces the Redemption of Certain Convertible Debentures, an Increase to a Private Placement Offering of Units and the Results of the 2021 Shareholder's Meeting\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n Vancouver, British Columbia,\nCanada\n \n \n –\n \n \n TheNewswire –\nDecember 20, 2021 -\n \n \n Jazz Resources Inc. (the\n“\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 )\n \n \n announces that on December 4, 2021 (the “\n \n \n Redemption Date\n \n \n ”),\nit has redeemed certain of its unsecured convertible debentures (the\n“\n \n \n Debentures\n \n \n ”) dated June 4, 2021.  On the Redemption Date, the\nCompany redeemed the aggregate principal sum of $350,000 of certain\nDebentures.  In addition to the redemption amounts, the Company paid\nto the holders of the redeemed Debentures any accrued and unpaid\ninterest, at a rate of 8% per annum, calculated from the date of\nissuance of the Debentures to December 4, 2021.\n \n \n \n \n The Company also wishes to announce that it has\nincreased its previously announced non-brokered private placement\noffering from 1,066,667 units to 1,866,667 units (each, a\n“\n \n \n Unit\n \n \n ”) at a price of $0.75 per Unit, to raise gross proceeds of\nup to $1,400,000 (the “\n \n \n Offering\n \n \n ”).  Each Unit shall be comprised\nof one common share of the Company (“\n \n \n Share\n \n \n ”) and one\nshare purchase warrant (“\n \n \n Warrant\n \n \n ”), with each Warrant entitling the\nholder to acquire one additional Share at a price of $1.10 per Share\nat any time up to 18 months following the closing date(s) of the\nOffering.  The Warrants will also be subject to an acceleration\nclause whereby, in the event the volume weighted average trading price\nof the Shares on the TSX Venture Exchange (the “Exchange”), or any\nother stock exchange on which the Company’s Shares are then listed,\nis equal to or greater than $1.50 for a period of 15 consecutive\ntrading days, the Company will have the right to accelerate the expiry\ndate of the Warrants by giving written notice to the holders of the\nWarrants that the Warrants will expire on the date that is not less\nthan...