Business
JZR Gold Announces A Private Placement Offering of Common Shares to Raise up to $2.5 Million
(TheNewswire) Vancouver, British Columbia, Canada – February 22, 2023 - JZR ...
About this update from Jzr Gold Inc.
[{"type":"text","content":"JZR Gold Announces A Private Placement Offering of Common Shares to Raise up to $2.5 Million\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n Vancouver, British Columbia, Canada\n–\n \n \n February 22, 2023 -\n \n \n JZR Gold Inc. (the “\n \n \n Company\n \n \n ” or\n“\n \n \n JZR\n \n \n ”)\n \n \n (\n \n \n TSX-V: JZR\n \n \n ) is\npleased to announce that it intends to undertake a non-brokered\nprivate placement offering (the “\n \n \n Offering\n \n \n ”) of up to\n4,166,666 common shares (each, a “\n \n \n Share\n \n \n ”) at a price\nof $0.60 per Share to raise gross proceeds of up to $2,500,000. The\nOffering is expected to close on or about March 30, 2023 and is\nsubject to approval of the TSX Venture Exchange (“\n \n \n TSXV\n \n \n ”).\n \n \n \n \n The Company intends to use the net proceeds of the\nOffering to fund operations of the fully constructed 800 tonne-per-day\ngravimetric mill, as well as future exploration work on the Vila Nova\nGold project located in Amapa State, Brazil (the “\n \n \n Vila Nova Project\n \n \n ”).  The Company possesses\n \n \n a 50% net\nprofit interest from all net profit generated from the Vila Nova\nProject.\n \n \n Funds will be advanced to ECO\n \n \n Mining Oil & Gaz Drilling and Exploration\n(EIRELI) (“\n \n \n ECO\n \n \n ”), as operator of the Vila Nova Project,\n \n \n by way of one or more loans to ECO.  Net proceeds will also\nbe used for general working capital purposes.\n \n \n \n \n \n \n \n \n \n Robert Klenk, Chief Executive Officer and Director of\nJZR Gold, commented: “With the capital from this proposed financing,\nthe company anticipates that ECO will be able to achieve maximum\ncapacity at the fully constructed bulk sampling gravimetric mill,\nallowing for the  processing by ECO of an estimated 9 million tonnes\nof gold tailings with grades averaging 2.7 g/t for a projected\ncontained gold content of over\n \n \n 700,000 ounces.\nAdditionally, funds loaned to ECO will be used to undertake further\nexploration activities by ECO on the Vila Nova Project”.\n \n \n \n \n Finder’s fees or brokers’ commissions comprised of\ncash, securities of the Company or a combination thereof may be paid\nin connection with ...