Business
JAZZ Closes Balance of Increased Non-Brokered Private Placement of Units
(TheNewswire) Vancouver, British Columbia, Canada – TheNewswire - Jazz...
About this update from Jzr Gold Inc.
[{"type":"text","content":"JAZZ Closes Balance of Increased Non-Brokered Private Placement of Units \n \n \n (TheNewswire)\n \n \n \n Vancouver, British Columbia, Canada\n–\n \n \n TheNewswire -\n \n \n Jazz Resources Inc.\n \n \n (TSXV:JZR)\n \n \n (the “\n \n \n Company\n \n \n ” or\n“\n \n \n JZR\n \n \n ”) is pleased to announce that it has closed (the\n“\n \n \n Second Tranche\n \n \n ”) the balance of its previously announced non-brokered\nprivate placement offering (the “\n \n \n Offering\n \n \n ”) of units\n(the “\n \n \n Units\n \n \n ”) by issuing 1,264,750 Units at a price of $0.80 per Unit\nfor gross proceeds of $1,011,800.  Each Unit is comprised of one\ncommon 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 Share in the capital of the Company\nat a price of $1.20 per Share for a period of 12 months after the date\nof issuance of the Warrants.\n \n \n \n \n In connection with the Second Tranche of the Offering,\nthe Company has paid finder’s fees to certain registered brokerage\nfirms, comprised of an aggregate cash payment of $49,500, and issued\nan aggregate of\n \n \n 61,875\n \n \n non-transferable compensation warrants, substantially upon the same\nterms and conditions as the Warrants. The Units, Shares, Warrants,\ncompensation warrants and any Shares issued upon the exercise of the\nWarrants or compensation warrants will be subject to a hold period of\nfour months and one day from the date of issuance.\n \n \n \n \n The Company will use the net proceeds of the Offering\nto advance the development of the Vila Nova gold project located in\nthe state of Amapa, Brazil, and for general working capital purposes.\n \n \n \n \n For further information, please contact:\n \n \n \n \n Robert Klenk\n \n \n \n \n Chief Executive Officer\n \n \n \n \n [email protected]\n \n \n \n \n Forward-Looking Information\n \n \n \n \n This press release contains \"forward-looking\ninformation\" within the meaning of applicable Canadian securities\nlegislation. Forward-looking information in this press release\nincludes statements with respect to the terms of the Offering and the\nexpected us...