JNC Closes Definitive Agreement with Southern Precious Metals Ltd. and Provides Updates on Financing
JNC RESOURCES CLOSES DEFINITIVE AGREEMENT WITH
SOUTHERN PRECIOUS METALS LTD. AND PROVIDES UPDATES ON
FINANCING
VANCOUVER, BC – August 19, 2021 – (CSE: JNC) (OTC: JNCCF) (Frankfurt: 5VH) – Further
to the March 02, 2021 and April 26, 2021 news releases, JNC Resources Inc. (“ JNC” or the
“Company”) and Southern Precious Metals Ltd. (“ SPML”) are pleased to announce that New
South Wales ministerial approval (“Ministerial Approval”) of the change in control of SPML has
been received and accordingly the parties have closed the Definitive Agreement in which JNC has
effectively acquired a 100% interest in SPML, and its subsidiary which hold 100% interests in the
Malebo and Solomons Properties in New South Wales (NSW) Australia. The Company issued six
million (6,000,000) common shares (the “ Purchase Shares ”) to the shareholders
(“Shareholders”) of SPML in exchange for all of the issued and outstanding shares of SPML. The
SPML Shareholders have entered into voluntary lockup undertakings wherein the Purchase Shares,
which are otherwise free-trading, have been released as to 25% of such Purchase Shares
immediately, 25% on October 23, 2021, an additional 25% on April 23, 2022 and the balance on
October 23, 2022.
As previously announced in its July 08, 2021 news release, the Company will carry out a two-for-
one consolidation (“Consolidation”) of its issued and outstanding shares and has also commenced
a non-brokered private placement of up to $5 million at $0.125 per unit (the “Financing”), each
unit consisting of a pre-Consolidation share and a half share purchase warrant, with each whole
warrant exercisable at $0.20 per pre-Consolidation share for 2 years from closing of the financing
subject to an accelerator clause allowing the Company to shorten the exercise window if the
Company’s share price trades above $0.25 for 30 consecutive trading days (adjusted for the
prospective Consolidation).The Company is now pleased to announce that subscriptions have been
received for a substantial portion and JNC fully expects to close the Financing in September 2021.
“We have made significant strides over the last couple of months in executing on our Australian
consolidation and exploration strategy” stated CEO, Michael Mulberry. “The closing of the
transaction with SPML and the advances that we have already made in our Financing is a clear
testament to the strength of our advisors and key shareholders and the confidence that the Canadian
capital markets continues to place on our Company.”
About JNC Resources Inc.
JNC is a Canada-based junior venture mineral exploration company which is uniquely positioned
to be a dominant player in New South Wales, Australia (NSW) through a growth strategy focused
on the consolidation and exploration of highly mineralized precious metals properties in this
prolific region of Australia. Through its acquisition of Southern Precious Metals Ltd, RooGold
Ltd and Aussie Precious Metals Corp properties, it will command a portfolio of 13 high-grade
potential gold (9) and silver (4) concessions covering 1,380 km2 and that is home to 137 historic
mines and prospects.
For further information please contact:
Michael Mulberry
T: 778-855-5001
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of applicable securities law.
Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”,
“intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or
conditions “may” or “will” occur.
Although the Company believes that the expectations reflected in applicable forward-looking statements
are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-
looking statements are subject to risks and uncertainties that may cause actual results, performance or
developments to differ materially from those contained in such statements.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.