(TheNewswire)
Vancouver, British Columbia, Canada - TheNewswire - October 23, 2023 - JZR Gold Inc. (TSXV:JZR)(OTC:JZRIF) (the “ Company ” or“ JZR ”) is pleased to announce that further to its news releaseof October 2, 2023, the Company has agreed to increase the size of itsnon-brokered private placement offering (the “ Offering ”) of units(each, a “ Unit ”) at a price of $0.20 per Unit to total gross proceeds ofup to $800,000 due to increased demand. Each Unit consists of onecommon share of the Company and one share purchase warrant, whichentitles the holder thereof to purchase one additional common share ofthe Company (each, a “ Warrant Share ”) at a price of $0.40 perWarrant Share for a period of two years after the closing of theOffering.
All of the securities will be subject to a hold periodof four months and one day from the date of issuance. Closing of theOffering will be subject to satisfaction of certain conditions,including, but not limited to, the receipt of all necessary regulatoryand other approvals, including approval by the TSX VentureExchange.
The Company intends to use the net proceeds from theOffering to advance the development of the Vila Nova gold projectlocated in the state of Amapa, Brazil, and for general working capitalpurposes.
For more information on the Offering, please see the Company’s newsrelease dated October 2, 2023.
In addition, the Company wishes to announce that, dueto the market conditions in March and April 2023, the Company decidednot to complete the balance of the unit offering that was originallyannounced on February 22, 2023, was amended on April 21, 2023 and waspartially completed on April 27, 2023.
For further information, please contact:
Robert Klenk
Chief Executive Officer
rob@jazzresources.ca
Forward-Looking Information
This press release contains certain “forward-lookinginformation” within the meaning of applicable Canadian securitieslegislation. Forward-looking information in this press releaseincludes all statements that are not historical facts, including,without limitation, statements with respect to the details of theOffering, including the proposed size and the expected use of proceedsand the receipt of regulatory approval for the Offering. Forward-looking information reflects the expectations or beliefs ofmanagement of the Company based on information currently available toit. Forward-looking information is subject to known and unknownrisks, uncertainties and other factors that may cause the actualresults, level of activity, performance or achievements of the Companyto be materially different from those expressed or implied by suchforward-looking information. These factors include, but are notlimited to: the Company may not complete theOffering; the Offering may not be approved by the TSX VentureExchange; risks associated with the business ofthe Company; business and economic conditions in the mineralexploration industry generally; the supply and demand for labour andother project inputs; changes in commodity prices; changes in interestand currency exchange rates; risks related to inaccurate geologicaland engineering assumptions; risks relating to unanticipatedoperational difficulties (including failure of equipment or processesto operate in accordance with the specifications or expectations, costescalation, unavailability of materials and equipment, governmentaction or delays in the receipt of government approvals, industrialdisturbances or other job action and unanticipated events related tohealth, safety and environmental matters); risks related to adverseweather conditions; political risk and social unrest; changes ingeneral economic conditions or conditions in the financial markets;and other risk factors as detailed from time to time in theCompany’s continuous disclosure documents filed with the Canadiansecurities regulators. The forward-looking information contained inthis press release is expressly qualified in its entirety by thiscautionary statement. The Company does not undertake to update anyforward-looking information, except as required by applicablesecurities 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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