Jourdan Closes First Tranche of Private Placement
Jourdan Closes First Tranche of Private Placement
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
TORONTO, April 21, 2023 -- JOURDAN RESOURCES INC. (TSXV: JOR; FRA: 2JR1) (“ Jourdan” or the “ Company”) is
pleased to announce that it has closed its first tranche of a previously announced non-brokered private placement financing of
units (each, a “Unit”) at a price of $0.07 per Unit (the “Offering”) for gross proceeds of $1,488,999.96 (the “First Tranche”).
For more information on the Offering, please see the Company’s press release dated March 17, 2023, which is available under
the Company’s profile on SEDAR at www.sedar.com.
Pursuant to the First Tranche, Jourdan issued 21,271,428 Units at a price of $0.07 per Unit. Each Unit consists 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 ”), entitling the holder to acquire one additional Common Share at an exercise price of $0.10 for a
period of 24 months from issuance. The securities issued in connection with the First Tranche are subject to a statutory four
month hold period, which expires on August 22, 2023. Completion of the Offering (including the First Tranche) is subject to
receipt of final approval of the TSX Venture Exchange. No finder’s fees were paid in connection with the First Tranche. The net
proceeds of the First Tranche are expected to be used for working capital and general corporate purposes.
Richard Quesnel, the executive chairman of the Company, subscribed for 10,000,000 Units pursuant to the First Tranche (the
“Insider Participation ”). Mr. Quesnel’s participation is considered to be a “related party transaction” as defined under
Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101 ”). The Insider
Participation is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101. The Company
did not file a material change report more than 21 days before closing the Initial Tranche as the details of the abovementioned
Insider Participation were not settled until shortly prior to closing, and the Company wished to close the Initial Tranche on an
expedited basis.
About Jourdan Resources Inc.
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 Quebec Lithium Mine.
For more information:
Rene Bharti, Chief Executive Officer and President
Email: [email protected]
Phone: (416) 861-5800
www.jourdaninc.com
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 First Tranche and the Offering,
including the Company’s intended use of net proceeds, receipt of final approval of the TSX Venture Exchange, and other
matters related thereto. 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 mineral prices and market demand; 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.