Jazz Resources’ Vila Nova mill to be fully assembled

Mar 3, 2022

2022-03-01 18:34 ET – News Release

Mr. Robert Klenk reports

JAZZ PROVIDES UPDATE ON VILA NOVA GOLD PROJECT AND ANNOUNCES NOTICE OF WARRANT ACCELERATION

Jazz Resources Inc.’s fully permitted, 800-tonne-per-day gravimetric mill is currently being assembled on site at the Vila Nova gold property located in the state of Amapa, Brazil. The Company anticipates that the mill will be fully assembled before the end of March 2022. Testing of the mill will be conducted as soon as practicable after assembly has been completed.

The Company also announces that it has elected to exercise its right under the terms of a warrant certificate dated February 18, 2021 (the ” Warrant Certificate “) governing the common share purchase warrants of the Company issued on February 18, 2021 (the ” Warrants “) to accelerate the expiry date of the Warrants. Pursuant to the Warrant Certificate, the Company may accelerate the expiry of these Warrants in the event the volume weighted average trading price of the common shares of the Company (” Common Shares “) on the TSX Venture Exchange is equal to or greater than $0.60 for at least 15 consecutive trading. The Warrants will, unless exercised, expire on March 31, 2022. As of the close of markets on March 1, 2022, the weighted average trading price of the Common Shares has been greater than $0.60 for at least 15 consecutive trading days. As of March 1, 2022, a total of 2,949,000 Warrants have yet to be exercised. Each Warrant is exercisable to acquire one common share at an exercise price of $0.35 . If all Warrants are exercised, gross proceeds to the Company will total $1,032,150 .00

The Company will use the net proceeds from the exercise of any Warrants to further develop the Vila Nova gold project and for general working capital purposes.

We seek Safe Harbor.

https://jazzresources.ca/