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TORONTO, Aug. 02, 2022 (GLOBE NEWSWIRE) — JOURDAN RESOURCES INC. (TSXV: JOR; FRA: 2JR1) (“Jordan“or the”Company“) is pleased to announce that it has closed its non-brokered private placement financing of common shares of the Company issued on a flow-through basis (each, a “Flow-through share”) and units (each, a “Unity”) for gross proceeds of $2,161,000 (collectively, the “Offer”). For further information on the Offer, please see the Company’s press releases dated June 29, 2022 and July 21, 2022, which are available under the Company’s profile on SEDAR at www.sedar.com .

Pursuant to the placement, Jourdan issued (i) 9,512,500 units at a price of $0.08 per unit and (ii) 14,000,000 flow-through shares at a price of $0.10 per flow-through share. Each unit consists of one common share of the Company and one common share purchase warrant (each, a “To guarantee”). Each warrant entitles its holder to acquire one additional common share of the Company at an exercise price of $0.10 until July 29, 2024.

All securities issued pursuant to the Offering are subject to a statutory hold period expiring on November 30, 2022. Completion of the Offering is subject to receipt of final approval from the TSX Venture Exchange (“TSXV”).

In connection with the Offer, Jourdan paid a finder’s fee of $81,000 in cash and issued 810,000 non-transferable finder’s warrants (“Intermediary mandates”) to Roche Securities Ltd. in accordance with the policies of the TSX Venture Exchange. Each finder’s warrant entitles its holder to purchase one common share of the Company at a price of $0.10 at any time prior to July 29, 2024. The Company intends to use the net proceeds of the issuance of units and flow-through shares for working capital and general corporate purposes and to finance exploration expenditures on its Vallée, Preissac-La Corne and Baillargé lithium mining properties.

Insiders of the Company subscribed for Units and Flow-Through Shares in connection with the Offering (the “Insider Participation”). Insider participation is considered a “related party transaction” within the meaning of the multilateral instrument 61-101 – Protection of holders of minority securities in special transactions (“MI 61-101”). Insider participation is exempt from the formal valuation and minority shareholder approval requirements of NI 61-101. The Company did not file a material change report more than 21 days before the closing of the Offer, as the details of the aforementioned insider participation were not settled until shortly before the closing, and the Company wished to close the Offer on an accelerated basis.

About Jourdan Resources Inc.
Jourdan Resources Inc. is a Canadian junior mining exploration company trading under the symbol “JOR” on the TSX Venture Exchange and “2JR1” on the Stuttgart Stock Exchange. The Company is focused on the acquisition, exploration, production and development of mineral properties. The Company’s properties are located in Quebec, Canada, primarily in the spodumene pegmatites of the La Corne Batholith, around North American Lithium’s Quebec lithium mine.

For more information:
René Bharti, Managing Director and President
Email: [email protected]
Phone: (416) 861-5800
www.jourdaninc.com

Warnings

This press release contains “forward-looking information” within the meaning of applicable Canadian securities laws. Forward-looking information includes, but is not limited to, statements regarding the Offering, including the Company’s intended use of net proceeds. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is planned”, “budget”, “expects”, “estimates”, “plans”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of these words and expressions or statements that certain actions, events or results “could”, “could”, “would”, “could” or “will be taken”, “will occur” or “will be carried out”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that could cause actual results, level of activity, performance or achievements of Jourdan to differ materially from those expressed. or implied by such forward-looking information, including but not limited to: receipt of necessary approvals; general business, economic, competitive, political and social uncertainties; future mineral prices; accidents, labor disputes and shortages and other hazards of the mining industry. Although Jourdan has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be those anticipated, estimated or planned. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Jourdan does not undertake to update forward-looking information except in accordance with applicable securities laws.

This press release does not constitute an offer to sell or a solicitation of an offer to buy securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “United States Securities Act”) or any state securities law and may not be offered or sold in the United States or to US persons unless registered under United States securities law and applicable state securities laws or an exemption from such registration is available.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS ITS TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE RELEVANCE OR ACCURACY OF THIS RELEASE.

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