Jayden Closes $1.2M Private Placement
Vancouver, B.C., September 30, 2016; Jayden Resources Inc. (JDN: TSXV) (the “Company”) is pleased to announce, further to its news release of September 6, 2016, that it has closed the non-brokered private placement raising gross proceeds of $1,200,000 by the issuance of 15,000,000 units (each, a “Unit”) at a price of $0.08 per Unit (the “Offering”).
Each Unit is comprised of one common share (a “Common Share”) and one Common Share purchase warrant (a “Warrant”). Each Warrant entitles the holder thereof to purchase one Common Share at a price of $0.12 per Common Share for a period of thirty-six (36) months from the date of issuance.
The Company paid a cash commission to an eligible person (the “Finder”) the amount of $96,000, being 8% of the gross proceeds of the Offering and issued 1,200,000 non-transferable broker warrants (“Broker Warrants”) to the Finder, being 8% of the Units issued pursuant to the Offering. Each Broker Warrant will entitle the holder to acquire one Common Share for a period of twenty four (24) months following the Closing Date at a price of $0.12 per Common Share.
The securities issued pursuant to the Offering are subject to a statutory hold period ending on January 31, 2017 in accordance with the policies of TSX Venture Exchange and applicable securities legislation. The net proceeds of the Offering will be used for general working capital purposes.
On closing of the Offering, Eric Sprott became an insider of the Company by holding approximately 15% of the issued and outstanding Common Shares on an undiluted basis.
On Behalf of the Board:
President and Chief Executive Officer
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