Juggernaut Expands Financing from $1,500,000 to $2,800,000 Due to Strong - Demand from Institutions and Key Strategic Investors
JUGGERNAUT EXPANDS FINANCING FROM $1,500,000 to $2,800,000 DUE TO STRONG
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DEMAND FROM INSTITUTIONS AND KEY STRATEGIC INVESTORS
Vancouver, British Columbia – February 22nd 2021 – Juggernaut Exploration Ltd. (TSX-V:
JUGR) (OTCQB: JUGRF) (FSE: 4JE) (the “Company” or “Juggernaut”) is pleased to report its
previously announced non-brokered flow through financing consisting of units priced at
$0.355 with a two year warrant priced at $0.375 of up to $1,500,000 on February 8th has been
increased up to $2,800,000 . Crescat Capital LLC (“Crescat”) has agreed to make a strategic
investment representing a 9.90% ownership of the Company post funding. As part of the
terms, they will also have an option to participate in future financings to maintain their 9.90%
interest for a three-year period from the date of closing scheduled for March 5 2021.
“Crescat is taking an activist approach to investing in the precious metals mining industry
today. Our goal at this stage of the cycle is to identify and invest in a portfolio of potentially
big, high-grade discoveries in the hands of undervalued juniors where we can help unlock
value. We are excited about Juggernaut and the discovery potential of its assets,” remarked
Kevin Smith, Crescat’s founder and Chief Investment Officer.
Dr. Quinton Hennigh has taken on the role as special technical advisor to the Company. He is
the technical consultant for all Crescat’s gold and silver mining investments. Dr. Hennigh is a
world-renowned exploration geologist with more than 30 years of experience including with
major gold mining firms Homestake Mining, Newcrest Mining, and Newmont Mining.
Dr. Hennigh stated “Juggernaut has a portfolio of promising early stage projects in and around
the Golden Triangle, British Columbia . Funds from this placement will be used to undertake
some fundamental exploration work with the aim of qui ckly generating new drill targets at
some of its projects. In particular, the Midas property displays good potential for precious
metal-rich volcanogenic massive sulfide discovery of “Eskay Creek” style. Although a fair
amount of geologic work was undertak en at Midas over the past couple years, it is clear that
the area of exploration interest is far larger than previously perceived and that the lion’s share
of prospectivity remains untested. This is a classic opportunity whereby Crescat applies its
friendly activist strategy toward building exploration strategy and helping to capitalize it.”
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The flow through funding will consist of up to 7,887.324 flow through units (“FT Units”), priced
at $0.355 each for gross proceeds of up to $2,800,000. Each FT Unit will consist of one flow-
through common share plus one warrant to purchase one non flow-through common share at
$0.375 for a twenty-four month period. Upon completion of the flow through offering, Crescat
has agreed to acquire a majority of these units representing a 9.90% ownership in the
Company post financing.
Directors and officers of the company may acquire securities under the 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.
Mr. Dan Stuart, Director, President and CEO of Juggernaut states:
“We are pleased to welcome both Crescat Capital as a strategic investor and Dr. Hennigh as a
Special Technical Advisor and investor. I look forward to working with our new partners who
bring a proven track record of both financial and technical strength. This will enable
Juggernaut to unlock the full potential of its assets over the long term, building value for all
shareholders. This investment and strategic partnership, coupled with the ongoing
institutional support and interest from senior miners, is a strong endorsement that clearly
demonstrates the significant near term discovery potential of four 100% controlled properties.
With a very tight capital structure, no debt and a strong cash position, we are well positioned
to move forward with exploration and drilling programs on our properties this summer . With
much anticipation, we look forward to executing the inaugural drill and exploration programs
and reporting results.”
The Company will pay finder's fees of the gross proceeds from the financing in cash, and
compensation options on the same terms and pricing as the units being sold. This non-
brokered private placement is subject to TSX Venture Exchange approval. All shares issued
pursuant to this offering and any shares issued pursuant to the exercise of warrants will be
subject to a four-month hold period from the closing date.
About Crescat Capital LLC
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Crescat is a global macro asset management firm headquartered in Denver, Colorado.
Crescat’s mission is to grow and protect wealth over the long term by deploying tactical
investment themes based on proprietary value-driven equity and macro models. Crescat’s goal
is industry leading absolute and risk-adjusted returns over complete business cycles with low
correlation to common benchmarks. The company ’s investment process involves a mix of
asset classes and strategies to assist with each client’s unique needs and objectives and
includes Global Macro, Long/Short, Large Cap and Precious Metals funds.
Crescat is advised by its technical consultant, Dr. Quinton Hennigh on investments in gold and
silver resource companies. Dr. Hennigh became an economic geologist after obtaining his PhD
in Geology/Geochemistry from the Colorado School of Mines. He has more than 30 years of
exploration experience with major gold mining firms that include Homestake Mining,
Newcrest Mining and Newmont Mining. Recently, Dr. Hennigh founded Novo Resources Corp
(TSXV: NVO) and is serving as Chairman. Among his notable project involvements are First
Mining Gold’s Springpole gold deposit in Ontario, Kirkland Lake Gold’s acquisition of the
Fosterville Gold Mine in Australia, the Rattlesnake Hills gold deposit in Wyoming, and Lion
One’s Tuvatu gold project on Fiji, among many others.
About Juggernaut Exploration Ltd.
Juggernaut Exploration Ltd. is a precious metals project generator in the geopolitically stable
jurisdiction of Canada, focused on the prolific geologic setting of northwestern British
Columbia.
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.
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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
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.