Jayden Closes $4.5M Unit Offering
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Jayden Closes $4.5M Unit Offering
Vancouver, B.C., December 1, 2021. Jayden Resources Inc., ("Jayden" or the “Company” ) (TSXV:JDN)
has closed a $0.50 unit offering ( the “Offering”) as announced on October 18, 2021 and has issued a
total of 9,072,000 units ("Units") for gross proceeds of $4,536,000.
Each Unit consist s of one (1) common share in the capital of Jayden (“Common Share”) a nd one-half
(1/2) of one transferable Common Share purchase warrant (“Warrant”), each whole Warrant entitling
the holder to purchase one (1) additional Common Share at a price of $0.80 for a period of two (2) years
following the date of closing.
The Warrants will be subject to an acceleration clause whereby, commencing on the date that is four
months and one day following the closing date (March 27, 2022), Jayden may, in its sole discretion,
provide notice to warrant holders to shorten the Warrant exp iry date to 30 days from the notice date if
the daily volume weighted average closing price of Jayden’s shares is greater than $1.00 for the 10
consecutive trading days preceding the notice date.
The participation in the Offering by an executive officer o f Jayden may be considered a "related party
transaction" (the “Related Party”) as defined under Multilateral Instrument 61 -101, Protection of
Minority Security Holders in Special Transactions (“MI 61-101”). Jayden has determined that exemptions
from the fo rmal valuation and minority shareholder approval requirements under MI 61 -101 are
available. In particular, Jayden has determined that the exemptions set out in paragraphs (a) and (b) in
section 5.5 of MI 61-101 are applicable since the aggregate consideration to be paid by the Related Party
does not exceed 25% of the market capitalization of Jayden and Jayden is not listed on the Toronto
Stock Exchange, but only on the TSX Venture Exchange. In addition, regarding the minority shareholder
approval exempti ons, the independent directors have determined that the exemptions set out in
paragraphs (1)(a) and (b) in section 5.7 of MI 61 -101 are applicable in that the aggregate consideration
to be paid by the Related Party does not exceed 25% of the market capital ization of Jayden, the
distribution of the securities to the Related Party has a fair market value of not more than $2,500,000
and Jayden is not listed on the Toronto Stock Exchange, but only on the TSX Venture Exchange.
The Company also paid finder’s fees totaling $142,520 in cash equal to 7% cash o f the proceeds raised
by the finders and issued a total of 142,520 whole finder’s Warrants equal to 3.5% of the number of
Units sold by the finders . The finder’s Warrants are exercisable on the same terms as above and are
subject to the acceleration clause.
The Common Shares and Warrants Shares if exercised are subject to a four -month-plus-one-day hold
period which will expire on March 27, 2022. Approximately $4M of the proceeds will be used to advance
the Company’s recently acquired Storm Lake Gold Property and the balance of the proceeds will be used
for working capital purposes.
For further information about this news release or the Company visit our website at
www.jaydenresources.com, email [email protected], or call Mike Thast at 778-331-2093.
On Behalf of the Board:
"David Eaton"
President and CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.