/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE
SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES/
TSX:JAG
TORONTO , June 15, 2017 /PRNewswire/ -- Jaguar Mining
Inc. ("Jaguar" or the "Company") (TSX:JAG) today announced that has closed its previously announced
non-brokered
private placement financing (the "Offering"). Pursuant to the Offering, the Company has issued
17,624,728 common shares (the "Shares") at a price of C$0.44 per share for gross proceeds of
approximately US$5.9 million. The Shares are subject to a four-month hold period.
Net proceeds from the sale of the Shares will be used for continuing capital investment programs and working capital
needs at the Company's Brazilian operations located in Minas Gerais, Brazil.
The Offering constitutes a related party transaction within the meaning of Multilateral Instrument 61-101 ("MI 61-101")
as certain insiders of the Company subscribed for Shares. The Company is relying on the exemptions from the valuation and
minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair
market value of the participation in the Offering by insiders does not exceed 25% of the market capitalization of the Company, as
determined in accordance with MI 61-101. The Company did not file a material change report more than 21 days before the closing
of the Offering as the details of the aforementioned insiders' participation were not settled until shortly prior to the closing
of the Offering, and the Company wished to close the Offering on an expedited basis.
About Jaguar Mining Inc.
Jaguar Mining Inc. is a Canadian-listed junior gold mining, development, and exploration company
operating in Brazil with three gold mining complexes, and a large land package with significant
upside exploration potential from mineral claims covering an area of approximately 191,000 hectares. The Company's principal
operating assets are in the Iron Quadrangle, a prolific greenstone belt in the state of Minas Gerais and include the Turmalina
Gold Mine Complex and Caeté Gold Mine Complex (Pilar and Roça Grande mines, and Caeté plant) which combined, produce more than
95,000 ounces of gold annually. The Company also owns the Paciência Gold Mine Complex, which has been on care and maintenance
since 2012. Additional information is available on the Company's website at www.jaguarmining.com .
The Shares have not been and will not be registered under the U.S. Securities Act or any state securities laws, and
may not be offered or sold in the United States absent registration or an applicable exemption
from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to
buy the common shares in the United States or in any jurisdiction in which such offer, sale or
solicitation would be unlawful.
FORWARD-LOOKING STATEMENTS
Certain statements in this news release constitute "forward-looking information" within the meaning of
applicable Canadian securities legislation. Forward-looking statements and information are provided for providing information
about management's expectations and plans relating to the future. All of the forward-looking information made in this news
release are qualified by the cautionary statements below and those made in our other filings with the securities regulators in
Canada. Forward-looking information contained in forward-looking statements can be identified using 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 results "may",
"could", "would", "might", or "will" 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-looking information
regarding, among other things, expectations regarding the use of proceeds of the Offering. The Company has made numerous
assumptions with respect to forward-looking information contained herein. Forward-looking information involve a number of known
and unknown risks and uncertainties, which, if incorrect, may cause actual results to differ materially from those anticipated by
the Company and described herein. 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 under the issuer profile of "Jaguar Mining Inc." on
SEDAR at www.sedar.com. The forward-looking information set forth herein
reflects the Company's reasonable expectations as at the date of this news release and is subject to change after such date. The
Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new
information, future events or otherwise, other than as required by law. The forward-looking information contained in this news
release is expressly qualified by this cautionary statement.
For further information: Rodney Lamond, President & Chief Executive Officer, rodney.lamond@jaguarmining.com, 416-847-1854; Joanne Jobin, Vice President, Investor Relations, joanne.jobin@jaguarmining.com, 416-847-1854