Jaguar Mining Provides an Update on Previously Announced USD$25 Million Equity Private Placement Offering
NEWS RELEASE
June 26, 2019 TSX: JAG
FOR IMMEDIATE RELEASE
Jaguar Mining Provides an Update on Previously Announced
USD$25 Million Equity Private Placement Offering
Not for Distribution to U.S. Newswire Services or for Dissemination in the USA.
TORONTO, June 26, 2019 - Jaguar Mining Inc. (" Jaguar" or the " Company") (TSX: JAG) is pleased to
provide the following update on the non-brokered private placement (the “Offering”) of common shares in
the capital of Jaguar (“Common Shares”) that the Company announced on June 18, 2019:
TSX Conditional Approval: The Toronto Stock Exchange (the “ TSX”) has conditionally
approved the Offering, following i ts review of the Company’s ap plication to utilize the “financial
hardship” exemption from the requirements to obtain shareholder approval for the Offering. The
completion of the Offering remains subject to the TSX’s final acceptance.
Full Order Book: As at the date of this news release, the Company has a full ord er book for the
USD$25 million Offering and theref ore is no longer accepting ne w subscriptions for the Offering.
This highlights the robustness of investor interest in the Offe ring, as well as both current
shareholders’ and new investors’ support for the Company’s strategic review process to enhance
shareholder value and improve the overall production profile, o perating efficiency and cost
structure of its mineral projects.
Anticipated Closing Date: Based on the foregoing, the Offering is now expected to close o n or
about July 3, 2019, or such later date(s) as may be determined by the Company.
As previously announced on June 18, 2019, the Common Shares wil l be offered at a price per share of
CAD$0.085 (or USD$0.0634 at a deemed exchange rate of US$1.00 = C$1.34). A finder’s fee or
commission will be paid to any finder or independent intermedia ry that: (i) identifie s and solicits qualified
investors that subscribe for the Offering; and (ii) is a regist ered dealer or advisor in accordance with
applicable securities laws. For clarity, there will be no commi ssion, referral or finder’s fee payable in
respect of subscribers that are identified and solicited by the Company or any of its affiliated entities.
There will also be no commission, referral or finder’s fee payable to a subscriber (or an affiliate thereof) in
regard to the subscriber’s own purchase of any Common Shares.
The Company currently anticipat es that it will use the net proc eeds of the Offering for: (i) capital
improvements and infrastructure intended to improve production output and cost efficiencies at its
operating gold mines in Brazil; (ii) advancing the Company’s mi neral exploration activities in order to
increase reserves and expected mine lives; (iii) the repayment of a USD$7.85 bridge loan due July 15,
2019; and (iv) for general corporate and working capital improvement purposes.
The TSX has informed the Company that the Company will be the s ubject of a remedial delisting review.
It is routine for the TSX to require any issuer utilizing the financial hardship exemption to be the subject of
a remedial delisting review. Pursuant to this delisting review, the TSX has required that, prior to October
16, 2019, the Company demonstrate to the TSX that the Company c omplies with all of the TSX
requirements for continued listing after the completion of the Offering
This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be
any sale of the securities in any State in which such offer, so licitation or sale would be unlawful. The
securities being offered have not been, nor will they be, regis tered under the United States Securities Act
of 1933 , as amended, and may not be offered or sold in the United Stat es absent registration or an
applicable exemption from the registration requirements of the United States Securities Act of 1933 , as
amended, and applicable state securities laws.
About Jaguar Mining Inc.
Jaguar Mining Inc. is a Canadian-listed junior gold mining, dev elopment, and exploration company
operating in Brazil with three gold mining complexes and a larg e land package with significant upside
exploration potential from mineral claims covering an area of a pproximately 64,000 hectares. The
Company's principal operating assets are located in the Iron Qu adrangle, a prolific greenstone belt in the
state of Minas Gerais and include the Turmalina Gold Mine Compl ex and Caeté Mining Complex (Pilar
and Roça Grande Mines, and Caeté Plant). The Company also owns the Paciência Gold Mine Complex,
which has been on care and maintenance since 2012 and the Roça Grande Mine which has been on care
and maintenance since April 2018. Additional information is ava ilable on the Company's website at
www.jaguarmining.com.
For further information, please contact:
- Ben Guenther, Interim Chief Executive Officer, Jaguar Mining Inc.,
[email protected], +1 416-847-1854
- Hashim Ahmed, Chief Financial Officer, Jaguar Mining Inc., ha [email protected],
+1 416-847-1854
Forward-Looking Statements
Certain statements in this news release constitute "forward-looking information" within the meaning of
applicable Canadian securities legisl ation. Forward-looking statement s and information are provided for
the purpose of providing information about management's expectations and plans relating to the future.
All of the forward-looking information made in this news release is qualified by the cautionary statements
below and those made in the Company’s other filings wi th the securities regulators in Canada. Forward-
looking information contained in forward-looking statements can be identified by the use of words such as
"are expected," "is forecast," "is targeted," "approximately," "plans," "anticipates," "projects," "anticipates,"
"continue," "estimate," "believe" or variations of such words and phrases or statements that certain
actions, events or result s "may," "could," "would," "might," or "w ill" be taken, occur or be achieved. All
statements, other than statements of historical fact, may be considered to be or include forward-looking
information. This news release contains forward-l ooking information regarding, among other things, the
anticipated timing and closing of the Offering and the use of proceeds therefrom, fundraising, capital
markets, expected sales, production statistics, ore gr ades, tonnes milled, recovery rates, cash operating
costs, definition/delineation drilling, the timing and am ount of estimated future production, costs of
production, capital expenditures, costs and timing of the development of projects and new deposits,
success of exploration, developm ent and mining activities, currency fl uctuations, capital requirements,
project studies, mine life extensions, restarting suspended or disrupted operations, continuous
improvement initiatives, capital improvements, operat ing efficiencies, and resolution of pending litigation.
The Company has made numerous assumptions with re spect to forward-looking information contained
herein, including, among other things, assumptions about the estimated timeline for: the raising of
sufficient additional capital; the continued developm ent of its mineral properties; the supply and demand
for, and the level and volatility of the price of, gold; the accuracy of reserve and resource estimates and
the assumptions on which the reserve and resource estimates are based; the receipt of necessary
permits; market competition; ongoing relations with employees and impacted communities; political and
legal developments in any jurisdiction in which the Company operates being consistent with its current
expectations including, without lim itation, the impact of any potential power rationing, tailings facility
regulation, exploration and mine operating licenses and permits being obtained an renewed and/or there
being adverse amendments to mining or other laws in Brazil and any changes to general business and
economic conditions. Forward-looking information involves a number of known and unknown risks and
uncertainties, including among others: the risk of Jagua r not meeting the forecast plans regarding its
operations and financial performance; uncertainties with respect to the price of gold, labour disruptions,
mechanical failures, increase in costs, environmental compliance and change in environmental legislation
and regulation, weather delays and increased costs or production delays due to nat ural disasters, power
disruptions, procurement and delivery of parts and supplies to the operations; uncertainties inherent to
capital markets in general (including the sometimes volatile valuation of securities and an uncertain ability
to raise new capital) and other risks inherent to the gold exploration, development and production
industry, which, if incorrect, may cause actual result s to differ materially from those anticipated by the
Company and described herein. In addition, there are risks and hazards associat ed with the business of
gold exploration, development, mining and producti on, including environmental hazards, tailings dam
failures, industrial accidents and workplace safety problems, unusual or unexpected geological
formations, pressures, cave-ins, flooding, chemical spills, procurement fraud and gold bullion thefts and
losses (and the risk of inadequate insurance, or the i nability to obtain insurance, to cover these risks).
Accordingly, readers should not place undue reliance on forward-looking information.
For additional information with respect to these and other factors and assumptions underlying the
forward-looking information made in this news release, see the Company's most recent Annual
Information Form and Management's Discussion and Analysis, as well as other public disclosure
documents that can be accessed un der the issuer profile of "Jaguar Mining Inc." on SEDAR at
www.sedar.com. The forward-looking information se t forth herein reflects the Company's reasonable
expectations as at the date of this news release an d is subject to change after such date. The Company
disclaims any intention or obligation to update or revi se any forward-looking information, whether as a
result of new information, future events or otherwise, other than as requ ired by law. The forward-looking
information contained in this news release is expressly qualified by this cautionary statement.