Jubilee Industries Holdings is raising some $1.5 million in gross proceeds by placing out 30 million shares to seven individual investors.

The placement shares are priced at five cents each. Jubilee last traded at 4.9 cents on July 19.

In addition to the shares, Jubilee will also issue 30 million warrants for each of the placement shares subscribed. The warrants are to be exercised at the same price of five cents each. 

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