Juggernaut Announces Investment BY Strategic Institutions and Hnwi
JUGGERNAUT ANNOUNCES INVESTMENT BY STRATEGIC INSTITUTIONS AND HNWI
Vancouver, British Columbia – August 11th 2023 – Juggernaut Exploration Ltd. (TSX-V: JUGR)
(OTCQB: JUGRF) (FSE: 4JE) (the “Company” or “Juggernaut”) is pleased to announce it has filed
documents seeking conditional approval of a non-brokered hard dollar private placement of up
to $1.0 million dollars. Juggernaut’s projects continue to garner strong interest and support
from leading institutions, high net-worth individuals and miners alike, confirming the quality of
its three fully permitted, 100% controlled projects located in world class geologic terrane of
Northwestern British Columbia and the Golden Triangle.
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The hard dollar financing will consist of up to 8,000,000 units (“Units”), priced at $0.125 each
for gross proceeds of up to $1,000,000. Each Unit will consist of one common share plus one
share purchase warrant (“Warrant”) with each Warrant exercisable to purchase one common
share of the Company at $0.20 for a twenty-four month period from the date of issuance. If at
any time after the date of issuance, the Company’s common shares have a closing price equal
to or higher than $1.00 per share for ten (10) consecutive trading days on the TSXV Exchange
(“Exchange”), the Company shall thereafter be entitled to give notice to the holders of th e
Warrants by news release that such Warrants will expire at 4:30 P.M. (Toronto time) on that
date which is 30 days after the date of such news release unless exercised before the expiry of
that period.
Directors and officers of the company may acquire securities under the private placement,
which participation would be considered to be a “related party transaction” as defined under
Multilateral Instrument 61-101 (“MI 61-101”). Such participation is expected to be exempt from
the formal valuation and minority shareholder approval requirements of MI 61-101. The funds
from this financing can be used for exploration and/or general working capital.
The Company may pay finder's fees equal to 6% of the gross proceeds from a portion of the
financing in cash, and 6% finder’s B-warrants equal to the number of units sold. Completion of
the private placement and the payment of the finders’ fees are subject to acceptance by the
Exchange. All shares issued pursuant to the financing (including shares issued to finders) and
any shares issued pursuant to the exercise of warrants will be subject to a four -month hold
period from the issuance date.
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Mr. Dan Stuart, Director, President, and CEO of Juggernaut states:
This strategic investment from globally recognized Institutions and ongoing support from senior
miners, is a strong endorsement that clearly demonstrates the significant near-term discovery
potential of our 100% controlled properties. Post financing, Juggernaut will have a tight capital
structure of slightly in excess of ~70 million shares, no debt, and a strong cash position of ~
$4,000,000. As such, we are well positioned to move forward with our expanded plans of drilling
Midas, Empire and Bingo totaling approximately ~6, 500 meters. With much anticipation, we
look forward to executing the inaugural drill and exploration programs and reporting results.”
About Juggernaut Exploration Ltd.
Juggernaut Exploration Ltd. is a precious metals and critical element project generator in the
geopolitically stable jurisdiction of Canada, focused on the prolific geologic setting of
northwestern British Columbia encompassing the Golden Triangle.
For more information, please contact
Juggernaut Exploration Ltd.
Dan Stuart
President, Director, and Chief Executive Officer
604-559-8028
www.juggernautexploration.com
NEITHER THE 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.
FORWARD LOOKING STATEMENT
Certain disclosure in this release may constitute forward-looking statements that are subject to
numerous risks and uncertainties relating to Juggernaut’s operations that may cause future
results to differ materially from those expressed or implied by those forward-looking
statements, including its ability to complete the contemplated private placement. Readers are
cautioned not to place undue reliance on these statements. NOT FOR DISSEMINATION IN THE
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UNITED STATES OR TO U.S. PERSONS OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES. THIS
PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR AN INVITATION TO PURCHASE
ANY SECURITIES DESCRIBED IN IT.