Jazz Resources (TSE:JZR) has released an update.
JZR Gold Inc. is set to boost its financial flexibility by initiating a private placement offering of convertible debentures, aiming to raise up to $1.5 million. The funds are primarily earmarked for the development of the Vila Nova gold project in Brazil and for general corporate purposes. These debentures will allow holders to convert their investment into company shares at a predetermined price and come with a one-year maturity and a 10% annual interest rate.
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