Jourdan Announces $500,000 Private Placement; Completes Drilling Program
Jourdan Announces $500,000 Private Placement; Completes Drilling Program
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TORONTO, Oct. 15, 2021 (GLOBE NEWSWIRE) -- Jourdan Resources Inc. (TSXV: JOR; OTCQB: JORFF) (“Jourdan” or the
“Company”) announces that it intends to complete a best efforts non-brokered private placement financing of up to 10,000,000
units (each, a “Unit”) at a price of $0.05 per Unit for gross proceeds of up to $500,000 (the “Offering”). Each Unit will consist
of one common share of the Company (each, a “ Common Share ”) and one-half of one Common Share purchase warrant
(each whole warrant, a “ Warrant ”). Each Warrant will entitle the holder to acquire one additional Common Share at an
exercise price of $0.07 for a period of 24 months from issuance.
Closing of the Offering is expected to occur on or about October 31, 2021. All securities issued in connection with the Offering
will be subject to a statutory hold period of four months and one day. Completion of the Offering is subject to a number of
conditions, including without limitation, receipt of TSX Venture Exchange (“ TSXV”) approval. Finder’s fees may be paid to
eligible finders in accordance with the policies of the TSXV consisting of a cash commission equal to up to 8% of the gross
proceeds raised under the Offering and finder warrants (“Finder Warrants”) in an amount equal to up to 8% of the number of
Units sold pursuant to the Offering. Each Finder Warrant will entitle the holder thereof to purchase one Common Share at a
price of $0.07 per Common Share for a period of 24 months following the closing date of the Offering. The Company intends to
use the net proceeds of the Offering for working capital and general corporate purposes.
The Company is also pleased to announce that it has completed its previously announced diamond drilling program, with
1,682 meters of drilling completed. For more information, please see the Company’s press release dated September 16, 2021,
which is available under the Company’s SEDAR profile at www.sedar.com. The Company awaits the assay results from the
program in which every hole showed multiple intersections of spodumene-bearing pegmatite. These results are expected in
early November 2021.
Qualified Person
The scientific and technical information contained herein has been reviewed and approved by Alexandr Beloborodov, P.Geo.,
an independent consultant that is a “qualified person” as defined in National Instrument 43-101 – Standards of Disclosure for
Mineral Projects.
About Jourdan Resources
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 mining properties. The Company’s properties are in Quebec, Canada, primarily in the spodumene-bearing
pegmatites of the La Corne Batholith, around North American Lithium’s producing Quebec Lithium Mine.
For more information:
www.jourdaninc.com
Rene Bharti, Chief Executive Officer
Email: [email protected]
Phone: (416) 861-5800
Cautionary statements
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation.
Forward looking information includes, but is not limited to, statements with respect to the Offering, including the Company’s
intended use of proceeds, closing conditions and timing and other matters relating thereto, and the remaining assay results
from its recently completed drilling program. Generally, forward-looking information can be identified by the use of forward-
looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”,
“forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or
statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual
results, level of activity, performance or achievements of Jourdan to be materially different 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 prices of minerals; accidents, labour disputes and shortages and other
risks of the mining industry. Although Jourdan has attempted to identify important factors that could cause actual results to
differ materially from those contained in forward-looking information, there may be other factors that cause results not to be
as anticipated, estimated or intended. 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 any forward-looking information,
except in accordance with applicable securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the 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 "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S.
persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such
registration is available.
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.