Vancouver, British Columbia--(Newsfile Corp. - July 18, 2017) - Jaxon Minerals Inc. (TSXV: JAX) (FSE: 0U3) ("Jaxon" or the "Company") is pleased to announce the closing of its non-brokered private placement previously announced on June 15, 2017 and increased on July 10, 2017 (the "Private Placement) with the issuance of a total of 8,089,600 Units at a price of $0.25 per Unit for gross proceeds of $2,022,400.
As announced, each Unit consists of one common share of the Company (a "Share") at $0.25 and one-half common share purchase warrant (a "Warrant"), with one full warrant entitling the holder to acquire an additional common share of the Company (a "Warrant Share") for a period of 24 months following the Closing Date at an exercise price of $0.35 per Warrant Share.
In connection with the Private Placement, the Company paid finder's fees to arm's-length third parties consisting of $56,200 in cash and 269,000 Broker' s warrants.
The securities issued in the private placement will be subject to a hold period of four months plus one day following the issue date, under applicable Canadian securities legislation.
