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Jaxon Minerals closes second tranche of placing, raising $266,200

Last updated: 16:53 28 Jun 2017 EDT, First published: 11:53 28 Jun 2017 EDT

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The funds raised will be used to continue field exploration of the company's Hazelton project (formerly Price Creek)

Jaxon Minerals Inc (CVE: JAX) said it had closed the second tranche of the previously announced placing, bringing in $266,200.

The mining group issued 1.064mln at 25 cents a throw.

As reported, the firm  plans to issue up to  4mln units at 25 cents for gross proceeds of up to $1mln.

Each unit will comprise one share and one-half share purchase warrant, entitling the holder to buy one share at 35 cents each for two years.

The funds raised will be used to continue field exploration of the company's Hazelton project (formerly Price Creek) and continue compiling data ahead of expected fieldwork on the Wishbone/Foremore project and for general working capital.

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