Business
JZR Gold Closes First Tranche of Non-Brokered Private Placement Offering of Units
(TheNewswire) April 27, 2023 – TheNewswire - Vancouver, British Columbia, Ca...
About this update from Jzr Gold Inc.
[{"type":"text","content":"JZR Gold Closes First Tranche of Non-Brokered Private Placement Offering of Units\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n April 27, 2023 –\n \n \n TheNewswire -\n \n \n Vancouver, British Columbia, Canada –\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 TSXV:JZR\n \n \n ) is pleased\nto announce that, further to its news release dated April 21, 2023, it\n \n \n has closed the first tranche of its previously\nannounced non-brokered private placement offering (the “\n \n \n Offering\n \n \n ”) of\ncommon shares (the “\n \n \n Shares\n \n \n ”) by issuing 875,000 units (the\n“\n \n \n Units\n \n \n ”) at a price of $0.60 per Unit for gross proceeds of\n$525,000.  Each Unit is comprised of one common share (each, a\n“\n \n \n Share\n \n \n ”) and one share purchase warrant (each, a “\n \n \n Warrant\n \n \n ”).  Each\nWarrant shall entitle the holder to acquire one additional common\nshare (a “\n \n \n Warrant\nShare\n \n \n ”) at a price of $0.90 per Warrant Share\nfor a period of 18 months after the date of issuance.  The balance of\nthe Offering is expected to close on or before May 30, 2023.  The\nUnits, Shares, Warrants and Warrants Shares are collectively referred\nto as the “Securities”.  The Offering is subject to approval of\nthe TSX Venture Exchange.  The Securities will be subject to a hold\nperiod of four months and one day from the date of issuance.\n \n \n \n \n Insiders of the Company subscribed for a total of\n500,000 Units under the Offering, which is a “related party\ntransaction” within the meaning of Multilateral Instrument 61-101\n \n \n Protection of Minority\nSecurity Holders in Special Transactions\n \n \n (“\n \n \n MI 61-101\n \n \n ”). The Company has relied on the exemptions from the\nformal valuation and minority shareholder approval requirements of MI\n61-101 contained in Sections 5.5(a) and 5.7(1)(a) of MI61-101 in\nrespect of any related party participation in the Offering, as neither\nthe fair market value of the subject matter of, nor the fair market\nvalue of the consideration for, the transaction, insofar as it\ninvolved the related parti...