(TheNewswire)
Vancouver, British Columbia, Canada– TheNewswire - Jazz Resources Inc. (TSXV:JZR) (the “ Company ” or“ JZR ”) is pleased to announce that it has closed (the“ Second Tranche ”) the balance of its previously announced non-brokeredprivate placement offering (the “ Offering ”) of units(the “ Units ”) by issuing 1,264,750 Units at a price of $0.80 per Unitfor gross proceeds of $1,011,800. Each Unit is comprised of onecommon share (a “ Share ”) in the capital of the Company andone share purchase warrant (a “ Warrant ”). Each Warrant shall entitle theholder to acquire one additional Share in the capital of the Companyat a price of $1.20 per Share for a period of 12 months after the dateof issuance of the Warrants.
In connection with the Second Tranche of the Offering,the Company has paid finder’s fees to certain registered brokeragefirms, comprised of an aggregate cash payment of $49,500, and issuedan aggregate of 61,875 non-transferable compensation warrants, substantially upon the sameterms and conditions as the Warrants. The Units, Shares, Warrants,compensation warrants and any Shares issued upon the exercise of theWarrants or compensation warrants will be subject to a hold period offour months and one day from the date of issuance.
The Company will use the net proceeds of the Offeringto advance the development of the Vila Nova gold project located inthe state of Amapa, Brazil, and for general working capital purposes.
For further information, please contact:
Robert Klenk
Chief Executive Officer
rob@jazzresources.ca
Forward-Looking Information
This press release contains "forward-lookinginformation" within the meaning of applicable Canadian securitieslegislation. Forward-looking information in this press releaseincludes statements with respect to the terms of the Offering and theexpected use of the net proceeds of the Offering. Forward-lookinginformation is subject to known and unknown risks, uncertainties andother factors that may cause the actual results, level of activity,performance or achievements of the Company to be materially differentfrom those expressed or implied by such forward-looking information,including but not limited to: general business, economic, competitive,geopolitical and social uncertainties and regulatory risks. Althoughthe Company has attempted to identify important factors that couldcause actual results to differ materially from those contained inforward-looking information, there may be other factors that causeresults not to be as anticipated, estimated or intended. There canbe no assurance that such information will prove to be accurate, asactual results and future events could differ materially from thoseanticipated in such statements. Accordingly, readers should notplace undue reliance on forward-looking information. Theforward-looking information contained in this press release isexpressly qualified in its entirety by this cautionary statement. TheCompany does not undertake to update any forward-looking information,except as required by applicable securities laws.
Neither the TSXVenture Exchange nor its regulation services provider (as that term isdefined in the policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of this pressrelease.
None of thesecurities of JZR have been registered under the U.S. Securities Actof 1933, as amended (the “U.S. Securities Act”), or any statesecurities law, and may not be offered or sold in the United States orto, or for the account or benefit of, persons in the United States or“U.S. persons” (as such term is defined in Regulation S under theU.S. Securities Act) absent registration or an exemption from suchregistration requirements. This press release shall not constitute anoffer to sell or the solicitation of an offer to buy in the UnitedStates nor shall there be any sale of the securities in any State inwhich such offer, solicitation or sale would be unlawful.
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