Jazz Resources (TSE:JZR) has released an update.
Jazz Resources Inc. has successfully completed the final phase of its non-brokered private placement, raising $1.98 million through convertible debentures. These funds are earmarked for the development and exploration of the Vila Nova Gold project in Brazil, as well as for general corporate and operational expenses. The debentures, which include an interest rate of 10% per annum, are convertible into company shares and share purchase warrants, providing an investment opportunity that could potentially lead to company ownership stakes for investors.
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