Jayden Resources arranges C$1M private placement
What's the deal? Jayden ResourcesDealroom has a profile for this one. Try Dealroom → has arranged a non-brokered private placement of up to 5,128,205 units at 19.5 cents each, for gross proceeds of up to C$1-million. Each unit includes one common share and one transferable warrant, exercisable at 26 cents for two years after closing.
What's the money for? The proceeds will fund general working capital, according to the company.
Why now? The placement follows Jayden's previous financing activity. The company also clarified that indebtedness under a proposed shares-for-debt settlement totals C$462,812, rather than C$378,442 previously stated; the share count and deemed issue price remain unchanged.
What could go wrong? The placement is subject to TSX Venture Exchange approval, and issued securities will carry a statutory hold period of four months and one day from issuance.
Read more: Stockwatch
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