Jourdan Increases Option Percentage in Preissac-Lacorne Lithium Portfolio
Jourdan Increases Option Percentage in Preissac-Lacorne Lithium Portfolio
TORONTO, June 03, 2020 -- Jourdan Resources Inc. (TSX-V: JOR) (“Jourdan” or the “Company”) is pleased to announce that,
pursuant to an amending agreement (the “Amending Agreement ”) entered into with Infinite Ore Corp. (“Infinite”; TSX-V: ILI;
formerly Alix Resources Corp.) in connection with an option agreement, it has increased its percentage interest of an option
(the “Infinite Option”) it holds in Infinite’s 145 claim Preissac-Lacorne lithium portfolio (the “Portfolio”) from 75% to 100%. For
more information about the Infinite Option, please see the Company’s press releases dated May 9, 2017 and May 16, 2017,
which are available under the Company’s SEDAR profile at www.sedar.com.
In consideration for the increased percentage in the Portfolio, the parties agreed to adjust the consideration payable by the
Corporation to exercise the Infinite Option to: (i) the $50,000 already paid to Infinite, as announced on May 16, 2017, (ii) the
600,000 common shares of the Corporation already issued to Infinite, as announced on May 16, 2017, and, (iii) the issuance
to Infinite of an additional 8,100,000 common shares of the Corporation (the “Consideration Shares”).
The Consideration Shares issuable in connection with the Infinite Option will be subject to the approval of the TSX Venture
Exchange (“TSXV”) and will be subject to a statutory four month and one day hold period.
About Jourdan Resources
Jourdan Resources Inc. is a Canadian junior mining exploration company trading under the symbol JOR on the TSX-V 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. This mine is part of Contemporary
Amperex Technology Co. Limited (CATL), China’s largest automotive battery manufacturer.
For more information:
Aaron Atin
Corporate Secretary
Cautionary statements
This news release contains certain forward-looking statements, including statements regarding the Corporation’s exercise of
the Infinite Option and the TSXV’s approval of the issuance of the Consideration Shares. These statements are subject to a
number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking
statements. 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.
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.