(TheNewswire)
June8, 2023 – TheNewswire - Vancouver, British Columbia,Canada – JZR Gold Inc. (the “ Company ” or“ JZR ”) ( TSXV:JZR ) is pleasedto announce that it has entered into loanagreements with each of four arm’s length lenders (collectively, the“ Lenders ”) dated June 8, 2023,pursuant to which the Company will borrow the aggregate principal sumof $1,000,000 (the “ Loans ”). The Loans, which are unsecured,will have a term of one (1) year (the “ Maturity Date ”),and bear interest at a rate of 12.0% per annum. The aggregateprincipal sum of the Loans, and any accrued but unpaid interest, shallbe due and payable on the Maturity Date, provided, however, that theCompany may pay back the principal plus any accrued and unpaidinterest on the Loans to the Lenders at any time withoutpenalty.
Subject to approval of the TSX Venture Exchange, theCompany will also issue to the Lenders an aggregate of 300,000 commonshares (the “ BonusShares ”) as additional consideration for theLoans. The Bonus Shares are subject to a hold period of four monthsand one day from the date of issuance.
The Company possesses a right to receive a 50% netprofit interest in gold produced from the Vila Nova gold projectlocated in the State of Amapa, Brazil (the “ Project ”). TheProject is currently being developed by Eco Mining Oil & GazDrilling and Exploration Ltda. (“ Eco ”) as theoperator. Eco commissioned the installation of a gravimetric mill(the “ Mill ”) for the Project, which Mill has been assembled and isoperational, but is not currently operating at full capacity. TheCompany wishes to assist Eco to bring the Mill to full operationalcapacity and intends to advance a majority of the net proceeds of theLoans as a loan to Eco specifically for this purpose.
For further information, please contact:
Robert Klenk
Chief Executive Officer
rob@jazzresources.ca
Forward-Looking Statements
This news release contains forward-looking statements,which includes any information about activities, events ordevelopments that the Company believes, expects or anticipates will ormay occur in the future. Forward-looking statements in this newsrelease include statements with respect to respect to the details of the Loan, including the repaymentterms, the anticipated use of proceeds and the receipt of regulatoryapproval for the Bonus Shares . Forward-looking information reflects the expectations orbeliefs of management of the Company based on information currentlyavailable to it. Forward-looking information is subject to known andunknown risks, uncertainties and other factors that may cause theactual results, level of activity, performance or achievements of theCompany to be materially different from those expressed or implied bysuch forward-looking information. These factors include, but are notlimited to: risks associated with the business of the Company;business and economic conditions in the mineral exploration industrygenerally; the supply and demand for labour and other project inputs;changes in commodity prices; changes in interest and currency exchangerates; risks related to inaccurate geological and engineeringassumptions; risks relating to unanticipated operational difficulties(including failure of equipment or processes to operate in accordancewith the specifications or expectations, unavailability of materialsand equipment, government action or delays in the receipt ofgovernment approvals, industrial disturbances or other job action andunanticipated events related to health, safety and environmentalmatters); risks related to adverse weather conditions; geopoliticalrisk and social unrest; changes in general economic conditions orconditions in the financial markets; and other risk factors asdetailed from time to time in the Company’s continuous disclosuredocuments filed with the Canadian securities regulators. Theforward-looking information contained in this press release isexpressly qualified in its entirety by this cautionary statement. The Company does not undertake to update any forward-lookinginformation, 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 news 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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