Jazz Resources Announces Private Placement Financing and Advancement of the Camborne and Teddy Glacier Mineral Projects

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(TheNewswire)

   

VANCOUVER, BRITISH COLUMBIA / TheNewswire / May 7, 2019 - Jazz Resources Inc. (TSX-V:JZR) is pleased to announce that it intends to complete a non-brokered private placement to raise gross proceeds of up to $500,000 for advancement of the Camborne and Teddy Glacier mineral projects near Revelstoke, British Columbia.  

Common share units are being offered at a price of $0.05. Each Unit will consist of one common share and one non-transferable warrant (the "Warrant"). Each Warrant will entitle the holder to purchase one common share at a price of $0.07 for a period of 18 months from the closing date of the private placement. Flow-through units (the "FT Units") are also being offered at a price of $0.06 per unit. Each FT Unit will consist of one flow-through common share.

The Company may pay finder's fees in connection with part of this private placement offering.

The net proceeds of this financing will be used to fund exploration and drilling at the Company's 100% owned Teddy Glacier gold, silver, lead and zinc property and advancement of BC Mines Act permitting, environmental studies, First Nations and community consultation and economic and technical studies relating to a proposed bulk sample program that could begin as early as late summer 2019. and for general work purposes. All securities issued in the Offering are subject to a four-month hold period, during which time the securities may not be traded.

 

On behalf of the Board of Directors

JAZZ RESOURCES INC.

Robert Klenk, CEO and Director

About Jazz Resources Inc.

Jazz Resources Inc. is a Canadian based exploration company focused on the exploration of prospective resource properties known as the Teddy Glacier and Spider Mine properties near Revelstoke, British Columbia. Along with energy, real estate and recreational interests on the Company’s properties, they are collectively known as the Camborne Project. Jazz trades on the TSX Venture Exchange under the ticker symbol JZR. For further information, please visit Jazz's website at www.jazzresources.ca.

Jazz Resources Inc.

604-329-9092

www.jazzresources.ca

 

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities issued, or to be issued, under the Offering have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

Reader Advisory

Forward-Looking Statements. This news release contains forward-looking statements. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "scheduled", "potential", or other similar words, or statements that certain events or conditions "may", "should" or "could" occur.

The forward-looking statements are based on certain key expectations and assumptions made by Jazz.  Although Jazz believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Prize can give no assurance that they will prove to be correct.  There is no assurance that the result of these exploration programs will be successful.  Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks.  These include, but are not limited to, exploration risks and that required regulatory and third-party approvals and consents are not obtained on terms satisfactory to the parties within the timelines provided.

The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable by the Company at the time of preparation, may prove to be incorrect and readers are cautioned not to place undue reliance on forward-looking information, which speaks only as of the date hereof.  The Company does not undertake any obligation to release publicly any revisions to forward-looking information contained herein to reflect events or circumstances that occur after the date hereof or to reflect the occurrence of unanticipated events, except as may be required under 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 release.

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