Jazz Announces Closing Of First Tranche Of Private Placement Of Units

Jazz Announces Closing Of First Tranche Of Private Placement Of Units

(TheNewswire)

Vancouver, British Columbia, Canada May 13, 2022 TheNewswire - Jazz Resources Inc. ( TSXV:JZR ) (the " Company " or " JZR ") is pleased to announce that it has closed the first portion of its previously announced non-brokered private placement offering (the " Offering ") of units (the " Units ") by issuing 860,250 Units at a price of $0.80 per Unit for gross proceeds of $688,200.  Each Unit is comprised of one common share (a " Share ") in the capital of the Company and one share purchase warrant (a " Warrant ").  Each Warrant shall entitle the holder to acquire one additional common share in the capital of the Company at a price of $1.20 per Share for a period of 12 months after the date of issuance of the Warrants.

In connection with the Offering, the Company has paid finder's fees to certain registered brokerage firms, comprised of an aggregate cash payment of $27,492, and issued an aggregate of 34,365 non-transferable compensation warrants, substantially upon the same terms and conditions as the Warrants. The Units, Shares, Warrants, compensation warrants and any Shares issued upon the exercise of the Warrants or compensation warrants will be subject to a hold period of four months and one day from the date of issuance.

The Company will use the net proceeds of the Offering to advance the development of the Vila Nova gold project located in the 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-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information in this press release includes statements with respect to the terms of the Offering and the expected use of the net proceeds of the Offering.  Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from 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.  Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended.  There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.  Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information contained in this press release is expressly qualified in its entirety by this cautionary statement. The Company does not undertake to update any forward-looking information, except as required by applicable securities laws.

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

None of the securities of JZR have been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities law, and may not be offered or sold in the United States or to, 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 the U.S. Securities Act) absent registration or an exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy in the United States nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.

Copyright (c) 2022 TheNewswire - All rights reserved.

News Provided by TheNewsWire via QuoteMedia

JZR:CA
JZR Gold

JZR Gold Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
JZR Gold (TSXV:JZR)

JZR Gold

Near-term cash flow with significant upside for gold exploration in Brazil

Near-term cash flow with significant upside for gold exploration in Brazil Keep Reading...
Don Durrett, gold and silver bars.

Don Durrett: Gold, Silver Prices Going Higher, Watch These Stocks

Don Durrett of GoldStockData.com explains why gold's record-setting price run isn't over. "The reason gold is at US$5,000 (per ounce) and going higher is because the US bond market is fragile and becoming more fragile every day," he said. "But not only that — I've said this — it's going to fail,... Keep Reading...
Kalgoorlie Gold Mining Managing Director Matt Painter.

Kalgoorlie Gold Mining Targets Multimillion-Ounce Deposit in a Proven Gold Corridor

Kalgoorlie Gold Mining (ASX:KAL) is advancing a focused exploration strategy aimed at uncovering a multimillion-ounce gold resource within one of Western Australia’s most established gold corridors. With the gold price strengthening and regional activity accelerating, the company is intensifying... Keep Reading...
Mayfair Gold CEO Nicholas Campbell.

Mayfair Gold Begins NYSE American Trading, Fast Tracks Fenn-Gib Project

Mayfair Gold (TSXV:MFG,NYSEAMERICAN:MINE) reached a significant milestone by officially commencing trading on the NYSE American under the ticker "MINE." This strategic move from the OTCQX aims to broaden the company's US shareholder base as it fast tracks its flagship property, the Fenn-Gib gold... Keep Reading...
First Development Resources

Selta Project - Gold Exploration Update

First Development Resources plc (AIM: FDR), a UK-based, Australia-focused mineral exploration company with interests in Western Australia and the Northern Territory, is pleased to provide an update on its gold ("Au") focused exploration at the Selta Project ("Selta" or the "Project"), located in... Keep Reading...
Tectonic Metals (TSXV:TECT)

Tectonic Metals Drills 4.50 g/t Au over 48.77 metres with 7.79 g/t Au over 24.38 metres at New Target, Flat Gold Project, Alaska

First-Ever Drilling by Tectonic at Black Creek Intrusion Delivers High-Grade Gold Six Kilometres North of Chicken Mountain, Validating Multi-Intrusion Gold System Across 99,800-Acre Flat Property VANCOUVER, BC / ACCESS Newswire / January 29, 2026 / Tectonic Metals Inc. ("Tectonic" or the... Keep Reading...
JZR Gold

JZR Gold Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Interactive Chart

Latest Press Releases

Related News