CALGARY, ALBERTA–(Marketwired – July 6, 2017) –
THIS PRESS RELEASE IS NOT FOR PUBLICATION OR DISSEMINATION IN THE UNITED STATES. FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAW
Jaguar Resources Inc. (“Jaguar” or the “Company”) (TSX VENTURE:JRI) is pleased to confirm that it is proceeding with its previously announced non-brokered private placement of common shares in the capital of the Company (“Common Shares”) at a price of $1.20 per share for aggregate gross proceeds of USD$38 million (approximately CDN$49.3 million).
In conjunction with closing of the Private Placement, Jaguar plans to issue 6,991,951 Common Shares at a deemed price of CDN$1.20 per Common Share to settle approximately $8,389,863 of corporate debt owed to various arm’s and non-arm’s length parties of the Company (the “Share Settlement”). The Company also intends to settle all amounts owing to Shadow Tree Income Fund A LP and any remaining payables owed by Jaguar, either pursuant to the Share Settlement or with the proceeds from the Private Placement.
The securities issued pursuant to the Private Placement and Share Settlement will be subject to a four month hold period. Both transactions are subject to the submission of final documentation and final approval of the TSX Venture Exchange.
Neither the 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 is not an offer of securities of the Company for sale in the United States. The Common Shares of the Company have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and the Common Shares may not be offered or sold in the United States except pursuant to an applicable exemption from such registration. No public offering of securities is being made in the United States.
Cautionary and Forward-Looking Statements
This news release contains forward‐looking statements and forward‐looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward‐looking statements or information. Forward‐looking statements and information are often, but not always, identified by the use of words such as “appear”, “seek”, “anticipate”, “plan”, “continue”, “estimate”, “approximate”, “expect”, “may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe”, “would” and similar expressions. More particularly and without limitation, this news release contains forward-looking statements and information concerning the Share Settlement and the Private Placement. The forward-looking statements and information are based on certain key expectations and assumptions made by Jaguar, including the TSX Venture Exchange approving the Share Settlement, Jaguar’s creditors accepting the terms of the Share Settlement and completion of the Private Placement. Although Jaguar believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward looking statements and information because Jaguar can give no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed. These risks and uncertainties, include, but are not limited to, the TSX Venture Exchange not providing final approval for the Share Settlement, Jaguar’s creditors’ acceptance of the terms of the Share Settlement and Jaguar being unable to complete the Private Placement on its terms or at all. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward-looking information for anything other than its intended purpose. Jaguar undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law or the TSX Venture Exchange
Corbin Blume
CEO
(403) 975-4009
(403) 264-5455 (FAX)