Jazz Resources (TSE:JZR) has released an update.
Jazz Resources Inc. has successfully closed the first tranche of its non-brokered private placement offering, raising $1,500,000 in convertible debentures, with the offering now expanded to $1,700,000 due to high investor interest. The funds will support operations and exploration at the Vila Nova Gold project in Brazil, as well as for general working capital needs. The debentures are convertible into shares and warrants, maturing in one year with a 10% annual interest rate.
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