Jazz Resources Inc. (TSXV:JZR) announced a non-brokered private placement of 2,400,000 units at an issue price of CAD 0.25 per unit for gross proceeds of CAD 600,000 on January 11, 2021. Each unit consists of one common share and one share purchase warrant. Each warrant will entitle the holder to purchase one common share at an exercise price of CAD 0.35 per warrant share at any time up to 18 months following the closing date subject to an acceleration clause whereby, in the event the volume weighted average trading price of the common shares on the TSX Venture Exchange, or any other stock exchange on which its common shares are then listed, is equal to or greater than CAD 0.60 for a period of 15 consecutive trading days, the company will have the right to accelerate the expiry date of the warrants by giving written notice to the holders of the warrants that the warrants will expire on the date that is not less than 30 days from the date notice is provided by the company to the warrant holders. As a part of transaction, the company may pay finder’s fees to certain registered brokerage firms, which fees would be a cash payment equal to 6% of the gross proceeds raised by purchasers introduced by such brokers, and the issuance of non-transferable compensation warrants equal to 6% of the number of units purchased by purchasers introduced by such brokers. All securities issued pursuant to the transaction and as payment of any finder’s fees will be subject to a hold period of four months and one day after the date of issuance. Subject to customary closing conditions, including the approval of the TSX Venture Exchange. The transaction is expected to close on or about January 20, 2021.