Jazz Golf Equipment will be commencing a rights offering to shareholders. All registered shareholders of Jazz resident in British Columbia, Alberta, Saskatchewan, Manitoba and Ontario will receive one (1) right for each Class A common share held at the record date of December 12, 2003. Every four (4) rights will entitle the holder to acquire one (1) Class A common share at a price of $0.10.
Shareholders may oversubscribe for rights, and will be able to exercise, on a pro rata basis, unsubscribed rights. If all subscription rights are exercised, Jazz will issue 1,479,084 Class A common shares, raising gross proceeds of approximately $148,000. The TSX Venture Exchange has conditionally approved the listing of the rights and the underlying common shares on the TSXV, subject to satisfaction of all conditions of such listing. Subject to certain exceptions, subscriptions for Class A common shares will only be accepted from residents of the Provinces of British Columbia, Alberta, Saskatchewan, Manitoba and Ontario.