10:48:20 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Jaxon Minerals Inc (2)
Symbol JAX
Shares Issued 48,183,439
Close 2017-08-10 C$ 0.33
Market Cap C$ 15,900,535
Recent Sedar Documents

Jaxon Minerals closes $598,000 private placement

2017-08-11 11:03 ET - News Release

Mr. Jason Cubitt reports

JAXON ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT

Jaxon Minerals Inc. has closed its non-brokered private placement previously announced on July 18, 2017, and increased on July 25, 2017, with the issuance of a total of 1,993,332 units at a price of 30 cents per unit for gross proceeds of $598,000. This increases the total funds Jaxon raised in the second quarter to a total of $2,620,400.

As announced, each unit in this most recent placement consists of one common share of the company at 30 cents and one-half common share purchase warrant, with one full warrant entitling the holder to acquire an additional common share of the company for a period of 24 months following the closing date at an exercise price of 38 cents per warrant share.

In connection with this most recent private placement, the company paid finders' fees to arm's-length third parties consisting of $18,050 in cash and 60,167 broker warrants. All securities issued in this most recent private placement will be subject to a hold period of four months plus one day following the issue date, under applicable Canadian securities legislation.

During its second fiscal quarter, the company issued a total of 10,082,932 from private placements for a grand total of $2,620,400, including 8,089,600 units at 25 cents per unit for proceeds of $2,022,400 and 1,993,332 units at 30 cents per unit for $598,000.

The company also wishes to announce that has received the resignation of Emma Fairhurst from the board of directors. The company thanks Ms. Fairhurst for her valuable service and wishes her well in her future endeavours.

We seek Safe Harbor.

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