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JZR Gold Enters into Loan Agreement
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About this update from Jzr Gold Inc.
[{"type":"text","content":"JZR Gold Enters into Loan Agreement\n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n NOT FOR DISTRIBUTION TO U.S.\nNEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR\nDISSEMINATION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO\nTHE UNITED STATES.\n \n\n\n\n\n\n February 11, 2025 –\n \n\n TheNewswire -\n \n\n Vancouver,\nBritish Columbia, Canada –\n \n JZR Gold Inc. (the “\n \n Company\n \n ” or “\n \n JZR\n \n ”) (\n \n TSX-V: JZR\n \n ) announces that it has\nentered into a loan agreement with Eco Mining Oil & Gaz Drilling\nand Exploration Ltda. (“\n \n Eco\n \n ”) dated September 30, 2024, pursuant to which the\nCompany agreed to lend to Eco up to US$2,000,000 (the “\n \n Loan\n \n ”). The Loan, which bears no\ninterest, is to be advanced to Eco in tranches upon request by Eco.\n Pursuant to the terms of the Loan, the Company shall have no\nobligation to advance or make available any funds to Eco and any funds\nso advanced shall be at the sole discretion of the Company.  As of\nthe date of the Loan Agreement, the Company had previously advanced\nthe sum of US$1,800,000 to Eco, which amount forms part of the Loan.\nEco may pay back any amount outstanding under Loan at any time without\npenalty.\n \n\n The Company possesses a right to receive a 50% net profit interest in\ngold produced from the Vila Nova gold project located in the State of\nAmapa, Brazil (the “\n \n Project\n \n ”).  The Project is currently being developed by\nEco as the operator.\n \n Eco commissioned the manufacture\nand installation of a gravimetric mill (the “\n \n\n Mill\n \n\n ”) for the\nProject, which Mill has been assembled and is being tested.  The\nCompany has advised that Eco requested financial assistance from the\nCompany in order to advance, acquire and assemble the Mill and to\nfurther advance the Project.  Management of the Company has\ndetermined that it is in the best interest of the Company to advance\nfunds to Eco in order to enable Eco to acquire the Mill, bring it into\noperation and to further advance the Project, and has agreed to\nadvance funds under the Loan to Eco specifically for the foregoing\npurposes.\n \n\n\n\n As security for the Loan, Eco has ...