VANCOUVER, Dec. 4 /CNW/ - Jazz Resources Inc. (JZR: TSX-V) is pleased to announce that it has closed a private placement of $101,000 (252,500 units) by way of a non-brokered private placement of units at a price of $0.40 per unit. Each unit consists of one common share and one common share purchase warrant with each warrant entitling the holder to purchase one common share of the Company at a price of $0.50 per share for a period of 18 months from the date of issuance.
The shares issued under this private placement cannot be traded before April 4, 2010.
Proceeds from the private placement will be used in connection with the Company's ongoing exploration operations at its Teddy Glacier and Spider properties in the Camborne area of British Columbia and for general working capital.
Jazz Resources Inc. (the Company) is a junior resource company focused on acquiring, exploring and, if warranted, developing economically viable mineral resources. All of the Company's mineral properties are located in British Columbia.
On behalf of the Board of Directors,
Neither 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.
This press release contains forward-looking statements. All statements, other than statements of historical fact, constitute "forward-looking statements" and include any information that addresses activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including the Company's strategy, plans or future financial or operating performance and other statements that express management's expectations or estimates of future performance.
All such forward-looking information and statements are based on certain assumptions and analyses made by the Company's management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. These statements, however, are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed, implied by or projected in the forward-looking information or statements. Important factors that could cause actual results to differ from these forward-looking statements include but are not limited to: risks related to the exploration and potential development of the Company's projects, the actual results of current exploration activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future prices of gold, as well as those factors discussed in the sections relating to risk factors of the Company set out in certain of the Company's disclosure documents filed on SEDAR.
There can be no assurance that any forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader should not place any undue reliance on forward-looking information or statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date of this document or to revise them to reflect the occurrence of future unanticipated events.
SOURCE Jazz Resources Inc.
For further information: For further information: JAZZ RESOURCES INC., 2394 W. Broadway, Vancouver, BC, V6K 2E5, telephone: (604) 733-4830, Fax: (604) 736-8584, Email: firstname.lastname@example.org