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 June 15, 2017, and increased on July 10, 2017, with the issuance of a total of 8,089,600 units at a price of 25 cents per unit for gross proceeds of $2,022,400.
As announced, each unit consists of one common share of the company at 25 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 35 cents per warrant share.
In connection with the private placement, the company paid finders' fees to arm's-length third parties consisting of $56,200 in cash and 269,000 broker warrants.
The securities issued in the private placement will be subject to a hold period of four months and one day following the issue date, under applicable Canadian securities legislation.
We seek Safe Harbor.
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