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Jazz Resources Increases Size of Non-Brokered Offering
(TheNewswire) Vancouver, British Columbia, Canada – TheNewswire – M...
About this update from Jzr Gold Inc.
[{"type":"text","content":"Jazz Resources Increases Size of Non-Brokered Offering\n \n \n (TheNewswire)\n \n \n \n Vancouver, British Columbia, Canada\n–\n \n \n TheNewswire – May 10,\n2022\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 (TSXV:JZR)\n \n \n is pleased to announce that, due to\nsignificant demand, it has increased its previously announced private\nplacement financing by an additional $700,000 to $1,700,000.\n Pursuant to the increased offering, the Company is offering, on a\nnon-brokered private placement basis, up to 2,125,000 units (each, a\n“\n \n \n Unit\n \n \n ”) at a price of $0.80 per Unit, to raise aggregate gross\nproceeds of up to $1,700,000.  Each Unit will be comprised of one\ncommon share (each, a “\n \n \n Share\n \n \n ”) and one common share purchase\nwarrant (each, a “\n \n \n Warrant\n \n \n ”).  Each Warrant will entitle the\nholder to acquire one additional common share (each, a “\n \n \n Warrant Share\n \n \n ”) of\nthe Company at an exercise price of $1.20 per Warrant Share for a\nperiod of 12 months after the closing of the Offering.\n \n \n \n \n The Company may pay a finder’s fee to certain\nregistered brokerage firms, which fees would be comprised of a cash\npayment equal to 6% of the subscription funds received by the Company\nfrom subscribers introduced by such brokers and the issuance of\nnon-transferable compensation warrants (the “\n \n \n Compensation Warrants\n \n \n ”) equal to 6% of the number of Units purchased by\nsubscribers introduced by such brokers.  Any Compensation Warrants\nwill be issued on substantially the same terms and conditions as the\nWarrants.  The Units, Shares, Warrants, Compensation Warrants,\nWarrant Shares and any Shares issued upon the exercise of the\nCompensation Warrants will be subject to a hold period of four months\nand one day from the closing date of the Offering.\n \n \n \n \n The Company will use the net proceeds from the Offering\nto advance the development on the Vila Nova gold project located in\nthe state of Amapa, Brazil, and for general working capital purposes.\n Closing of the Offering is expected to occur in late May 2022 and is\nsubject to the Company receiv...