Business
Jazz Resources Inc. Closes Final Tranche of Non-Brokered Private Placement Offering
(TheNewswire) November 9, 2020 - TheNewswire - Vancouver, British Columbia, Canad...
About this update from Jzr Gold Inc.
[{"type":"text","content":"Jazz Resources Inc. Closes Final Tranche of Non-Brokered Private Placement Offering\n \n \n (TheNewswire)\n \n \n \n November 9, 2020 - TheNewswire -\n \n \n Vancouver, British Columbia,\nCanada\n \n - Jazz Resources Inc. (the \"\n \n Company\n \n \" or \"\n \n JZR\n \n \")\n \n (TSXV:JZR)\n \n is pleased to announce that it has closed a\nthird and final tranche of its previously announced non-brokered\nprivate placement offering of Units (as defined herein).\n \n \n The Company previously announced a non-brokered offering of up to\n10,000,000 units (each, a \"\n \n Unit\n \n \") at a price of $0.20 per Unit (the \"\n \n Offering\n \n \"). Each Unit is\ncomprised of one common share and one share purchase warrant (each a\n\"\n \n Warrant\n \n \"). One\nwhole Warrant will entitle the holder to purchase one common share (as\n\"\n \n Warrant Share\n \n \") at\na price of $0.39 per Warrant Share until the date that is six (6)\nmonths from the date of issuance.\n \n \n On October 13, the Company closed the first tranche of the Offering\nand issued 3,345,000 Units for gross proceeds of $669,000. On October\n22, 2020 the Company closed a second tranche of the Offering and\nissued 4,085,000 Units for gross proceeds of $817,000. On November 6,\n2020, the Company closed the third and final tranche of the Offering\nand issued 1,275,000 Units for gross proceeds of $255,000. The total\nnumber of Units issued pursuant to all tranches is 8,705,000 for\naggregate gross proceeds of $1,741,000. The hold periods for the\nUnits issued pursuant to the third tranche and the underlying\nsecurities issuable thereunder expires on March 7, 2021. The Company\npaid a finder's fee of 6% in cash, totaling $4,500, and 6% in\nWarrants, totaling 22,500 Warrants, to PI Financial Corp. in\nconnection with a portion of the third tranche of the Offering.\n \n \n The Offering is subject to acceptance by the TSX Venture Exchange,\nwhich provided conditional acceptance on September 15, 2020.\n \n \n The Company intends to allocate the gross proceeds of the Offering as\ndisclosed in news releases dated September 14, October 13, and October\n22, 2020.\n \n \n \n Neither the TSX\nVenture Exchange nor its regulation services provider (as that term is\ndefined in the policies of the TSX Venture Exchange) accepts\nresponsibility for the adequacy or accuracy of this press\nr...