Jazz Resources Inc. Announcement of Cease Trade Order and Closing of Financing
Vancouver, November 13, 2019 - Jazz Resources Inc. (the "Company") announces that effective November 1st, 2019, the TSX Venture Exchange (the "Exchange") suspended trading in the Company's securities as a result of a cease trade order ("CTO") issued by the British Columbia Securities Commission. The CTO was issued as a result of the Company's failure to file the following periodic disclosure:
1. annual audited financial statements for the year ended June 30, 2019,
2. annual management's discussion and analysis for the year ended June 30,
2019, and
3. certification of annual filings for the year ended June 30, 2019.
The Company intends to file these disclosure documents within the next week.
Reinstatement to trading can occur only when the CTO is revoked and the Exchange has concluded its reinstatement review to ensure the Company has satisfactorily complied with Exchange requirements.
In addition, as previously announced on Sedar, Jazz is pleased to announce that it has closed a non-brokered private placement (the "Offering") of common and flow-through shares for gross proceeds of $70,000. All securities issued in connection with the Offering are subject to a statutory hold period expiring on October 21, 2019 in accordance with applicable securities legislation. The Offering is subject to Exchange final acceptance.
On behalf of the Board of Directors,
Rob Klenk Chairman of the Board, CEO Jazz Resources Inc.
For further information on this matter, please refer to the Company's website: www.jazzresources.ca or contact Rob Klenk at rob@jazzresources.ca
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains forward-looking statements. All statements, other than statements of historical fact, constitute "forward-looking statements" and include any information that addresses activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including the Company's strategy, plans or future financial or operating performance and other statements that express management's expectations or estimates of future performance.
All such forward-looking information and statements are based on certain assumptions and analyses made by the Company's management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. These statements, however, are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed, implied by or projected in the forward-looking information or statements. Important factors that could cause actual results to differ from these forward-looking statements include but are not limited to: risks related to the exploration and potential development of the Company's projects, the actual results of current exploration activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future prices of gold, as well as those factors discussed in the sections relating to risk factors of the Company set out in certain of the Company's disclosure documents filed on SEDAR.
There can be no assurance that any forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader should not place any undue reliance on forward-looking information or statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date of this document or to revise them to reflect the occurrence of future unanticipated events.