Business
JAZZ RESOURCES INC. Announces a Private Placement Offering of Convertible Debentures and the Expiry of Certain Mineral Claims
(TheNewswire) August 11, 2022 – TheNewswire - Vancouver, British Colum...
About this update from Jzr Gold Inc.
[{"type":"text","content":"JAZZ RESOURCES INC. Announces a Private Placement Offering of Convertible Debentures and the Expiry of Certain Mineral Claims\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n August 11, 2022 – TheNewswire -\n \n \n Vancouver, British Columbia,\nCanada\n \n \n –\n \n \n Jazz Resources Inc.\n \n \n (the “\n \n \n Company\n \n \n ” or\n“\n \n \n JZR\n \n \n ”)\n \n \n (TSXV:JZR)\n \n \n is pleased to announce that it intends to undertake a non-brokered\nprivate placement offering of convertible debentures (the\n“\n \n \n Debentures\n \n \n ”) to raise gross proceeds of up to $1,000,000 (the\n“\n \n \n Offering\n \n \n ”).  The principal sum of each Debenture will be $1,000.\n The Debentures will bear interest at a simple rate of eight percent\n(8%) per annum and will mature on the date that is two (2) years from\nthe date of issuance (the “\n \n \n Maturity Date\n \n \n ”). For the first year of the\nterm of the Debentures, interest will be paid in arrears in cash to\nthe holders of the Debentures on the earlier of the conversion date or\nthe date of the first anniversary of the Debentures. For the second\nyear of the term of the Debentures, interest will be paid in arrears\nin cash on the earlier of the conversion date and the Maturity Date\nfor interest accrued during the second year. The principal amount of\nthe Debentures may, at the election of the holders and at any time\nprior to the Maturity Date, be converted into common shares in the\ncapital of the Company (the “\n \n \n Conversion Shares\n \n \n ”) at a conversion price of\n$0.85 per Conversion Share.  The Debentures will be offered pursuant\nto one or more prospectus exemptions set out in National Instrument\n45-106\n \n \n Prospectus\nExemptions\n \n \n .\n \n \n \n \n \n \n The Company intends to\nuse the net proceeds of the Offering for development expenditures on\nthe Vila Nova gold project located in the State of Amapa, Brazil and\nfor general working capital purposes.\n \n \n \n \n \n \n Closing of the Offering\nis expected to occur in one or more tranches, with the first tranche\nexpected to close on or about August 24, 2022.  Insiders of the\nCompany may participate in the Offering.  The Company may pay\nparticipating registered dea...