Jade Power Announces Closing of Non-Brokered Private Placement
Source: www.gulfoilandgas.com 9/23/2024, Location: North America
Jade Power Trust (“Jade Power” or the “Trust”) is pleased to announce that it has closed its non-brokered private placement of 6,666,666 units (the “Units”) at a price of C$0.075 per Unit (the “Offering”).
Each Unit consists of one trust unit in the capital of the Trust (the “Trust Units”) and one half of one Trust Unit purchase warrant (each a “Warrant”). Each whole Warrant is exercisable for a period of one year from the date of issuance to purchase an additional Trust Unit at a price of C$0.10. Net proceeds of the Offering will be used for working capital and general corporate purposes.
Closing of the Offering remains subject to receipt of all necessary corporate and regulatory approvals, including the final approval of the NEX Board and the TSX Venture Exchange. All securities issued in connection with the Offering are subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation.
