July 28, 2020 - TheNewswire - Vancouver, British Columbia, Canada - Jazz Resources Inc. ("JZR") (TSXV:JZR) is pleased to announce that it intends to raise gross proceeds of up to $2,000,000 through a non-brokered private placement financing of up to 10,000,000 units ("Units") at a price of $0.20 per Unit. Each Unit is comprised of one common share of JZR and one common share purchase warrant ("JZR Warrant"), with each JZR Warrant entitling the holder to purchase one additional common share at $0.25 per share for a period of six months from the date of the issue. JZR intends to use the net proceeds to explore acquisition opportunities and for general working capital.
Subject to TSX Venture Exchange approval, JZR may pay a cash finder's fee of up to 6% of the aggregate gross proceeds of the private placement and 6% warrant to registered brokers or pay a cash finder's fee to certain finders of up to 6% of the aggregate gross proceeds of the private placement.
All securities issued pursuant to the private placement will be subject to a four month hold period from the date of issuance. Completion of the private placement is subject to TSX Venture Exchange approval.
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.
For further information, please contact:
Robert Klenk
Chief Executive Officer
rob@jazzresources.ca
www.jazzresources.ca
Copyright (c) 2020 TheNewswire - All rights reserved.
