JZR Gold Inc. Closes Non-Brokered Private Placement Offering of Units

JZR Gold Inc. has completed its previously announced non-brokered private placement, issuing 4,000,000 units for aggregate gross proceeds of CAD$1,000,000. Each unit consists of one common share and one common share purchase warrant, with the warrants exercisable at $0.35 per share for a period of two years. The company intends to use the proceeds to fund operations of its fully constructed 800 tonne-per-day gravimetric mill and for general working capital.
The transaction was structured as a non-brokered private placement at a price of $0.25 per unit. In connection with the financing, the company paid cash finder’s fees of $6,000 and issued 24,000 non-transferable finder warrants. These finder warrants were issued on the same terms as the investor warrants, exercisable at $0.35 per share for two years. The securities are subject to a hold period of four months and one day from the date of closing.