The Prospector News

Jaxon Closes Private Placement of Convertible Debentures

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Jaxon Closes Private Placement of Convertible Debentures

 

 

 

 

 

Jaxon Mining Inc. (TSX-V: JAX) (FSE: 0U31) (OTC: JXMNF) is pleased to announce it has closed its non-brokered private placement offering of unsecured convertible debentures, announced July 28, 2021, to raise aggregate gross proceeds of $1,350,000.00.

 

The Debentures will have a maturity date of ninety (90) days from the date of issuance and shall bear interest at a rate of 10% per annum. The principal sum of the Debentures, or any portion thereof, may be converted by the holder into a maximum of 18,000,000 units at a conversion price of $0.075 per Unit. Unconverted Debentures will automatically be converted into Units on the Maturity Date. Each Unit is comprised of one common share of the Company and one share purchase warrant. Each whole Warrant shall entitle the holder to acquire one additional common share in the capital of the Company at a price of $0.15 per share for a period of two years from the date that the Warrants are issued.

 

The Private Placement is subject to the final approval of the TSX Venture Exchange. All securities to be issued pursuant to the Private Placement are subject to a four-month hold period under applicable Canadian securities laws. All funds are denominated in Canadian dollars. No finder’s fees were paid.

 

Proceeds raised from the Private Placement will be used to fund the drilling programs for the Netalzul Mt and Red Springs projects, additional field exploration programs and for general working capital.

 

The securities being offered have not been, nor will they be registered under the United States Securities Act of 1933, as amended, or state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. federal and state registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.

 

About Jaxon Mining Inc.

 

Jaxon Mining is a Canadian-based exploration and development company pursuing the discoveries of commercial scale and grade Cu, Au, Ag, polymetallic projects. Jaxon focuses on overlooked and underexplored targets with deeper intervals that have not been identified or adequately explored; in areas that often have not been systematically mapped, modeled or drilled. Jaxon is currently focused on the Skeena Arch, an exceptionally orogenic and metallogenic area, in one of the most richly endowed terrains in British Columbia. The Company is preparing its 2021 drilling program to test the Netalzul Mountain and Red Springs projects on its 100% controlled Hazelton property.

 

Posted August 10, 2021

Share this news article

MORE or "UNCATEGORIZED"


Northern Graphite to Acquire Two Graphite Mines from Imerys Group

Company to become the only North American and third largest1 non-... READ MORE

December 3, 2021

Giyani Closes Bought Deal Public Offering Raising Gross Proceeds of $11.5 Million

Giyani Metals Corp. (TSX-V:EMM) (GR:A2DUU8) is pleased to announc... READ MORE

December 3, 2021

Salazar Resources Signs Option to Acquire The Los Santos Gold Project, El Oro, Ecuador

SALAZAR RESOURCES LIMITED (TSX-V: SRL) (OTCQX: SRLZF) (FSE: CCG.F... READ MORE

December 3, 2021

Search Minerals Completes Purchase of 2.5% NSR on Properties Held in Their Critical Rare Earth District in SE Labrador

Search Minerals Inc. (TSX-V: SMY | OTCQB: SHCMF)  is pleased t... READ MORE

December 3, 2021

Hemlo Explorers Announces Closing of Final Tranche of Non-Brokered Private Placement

Hemlo Explorers Inc. (TSX-V: HMLO) is pleased to announce that it... READ MORE

December 3, 2021

We acknowledge the [financial] support of the Government of Canada.

Government of Canada Supported
Copyright 2021 The Prospector News