Jourdan Resources Appoints FRED Leigh as President and CEO, Michael Dehn Moves to VP Exploration
NEWS RELEASE
JOURDAN RESOURCES APPOINTS FRED LEIGH AS PRESIDENT AND
CEO, MICHAEL DEHN MOVES TO VP EXPLORATION
Mississauga (Canada), August 2, 2018: JOURDAN RESOURCES INC. (the “Corporation”)
(TSX-V: JOR, Stuttgart: 2JR1 ) is pleased to announce the appoin tment of Mr Fred Leigh
as President and CEO . Mr. Leigh’s Corporate Finance expertise will allow Jourdan to
accelerate its exploration and development plans on its La Corne, Quebec lithium projects.
Several of the Corporation’s projects are adjacent to Cana da’s only producing lithium
mine, CATL, Jil an Jien and Investment Quebec controlled Quebec Lithium Mine. Michael
Dehn will continue to spearhead exploration and development activities of the Corporation.
Mr. Leigh has been involved in the junior resource s ector for more than 35 years and has
had a significant role as founder, director and/or investor in many public companies. Mr.
Leigh is also the founder and President of Siwash Holdings Ltd., a privately held company
which, for over 18 years , has invested in early stage opportunities in the resource sector.
Previously Mr. Leigh was CEO and President of Lithium One that was later merged with
Galaxy Resources in a C$112 million transaction.
“I am pleased to be coming in to help accelerate the growth of Jourda n Resources for the
benefit of all stakeholders ,” states Jourdan’s new CEO Fred Leigh. “I am excited to join a
Corporation with a strong technical management team with projects in the one of the
hottest commodities globally, working in a very safe, stable and mining friendly
jurisdiction.”
Jourdan is also pleased to announce that further to its press release dated June 12, 2018
and subject to receiving final regulatory approvals, it has closed a second and final tranche
(the “Second Tranche”) of its previou sly announced non -brokered private placement (the
"Offering") by issuing 466,667 units (each a "Unit") of the Corporation at a price of $0.075
per Unit for gross proceeds of $35,000. Each Unit consists of one common share (each a
"Share") of the Corporatio n issued on a "CEE flow -through" basis pursuant to the Income
Tax Act (Canada), and one half of one Share purchase warrant (each a "Warrant"). Each
whole Warrant will entitle the holder to acquire one Share at an exercise price of $0.10 per
Share on that d ate that is 24 months from the issuance closing date. The Corporation
intends to use the net proceeds of the Offering to fund exploration expenditures on its
portfolio of mineral properties.
RESOURCES
RESSOURCES
The securities issued on closing, including any securities issue d upon exercise of the
Warrants, are subject to a four month hold period which expires on December 2, 2018.
Related Party Transaction
A portion of the Second Tranche constituted a “related party transaction” as set out in
Multilateral Instrument 61-101 Protection of Minority Shareholders in Special Transactions
(“MI 61-101”) as Maxime Lemieux, a director of the Corporation, has been issued under
the Offering 66,667 Units. Accordingly, the part of the Second Tranche constituted to that
extent a "related party transaction" under MI 61-101. The transaction is exempt from the
formal valuation and minority shareholder approval requirements under MI 61-101 as
neither the fair market value of any securities issued to or the consideration paid by such
persons exceeds 25% of the Corporation's market capitalization. The Corporation did not
file a material change report more than 21 days before the closing of the Second Tranche
as it wished to close on an expedited basis for sound business reasons and did not know
when the transaction would be completed.
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 Corporation is focuse d on the acquisition, exploration, production, and
development of mining properties in lithium. The Corporation’s properties are primarily in
spodumene bearing pegmatite rich La Corne Batholith, around North American Lithium’s
producing Quebec Lithium Mine.
Please visit the Company’s website at www.jourdanresources.com
For further information please contact:
Michael Dehn
VP Exploration
Tel: (647) 477-2382
Fax: (647) 477-2389
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this news release, including any information as to our
strategy, projects, plans or future financial or operating performa nce and other statements
that express management's expectations or estimates of future performance, may
constitute forward-looking information (collectively "forward-looking information") within the
meaning of Canadian securities laws. Forward -looking info rmation may be identified by
terminology such as "may", "will", "could", "should", "expect", "plan", "anticipate", "believe",
"intend", "estimate", "projects", "predict", "potential", "continue" or other similar expressions
concerning matters that are not historical facts and include, but are not limited to, resource
estimates, capital and operating expenditures, economic conditions, availability of
sufficient financing, receipt of approvals, satisfaction of closing conditions and any and all
other timing, development, operational, financial, economic, legal, regulatory and/or
political factors that may influence future events or conditions. Such forward -looking
statements are based on a number of material factors and assumptions, including, but not
limited to, access to capital markets and other sources of financing and associated cost of
funds, final receipt of any required approvals, sufficient working capital for development
and operations, access to adequate services and supplies, availability of markets for
products, commodity prices, foreign currency exchange rates, interest rates, availability of
a qualified work force, availability of manufacturing equipment, no material changes to the
tax and regulatory regime, the ultimate ability to execute busines s plans on economically
favourable terms and those material factors and assumptions disclosed in other public
filings of Jourdan Resources.
While we consider these assumptions to be reasonable based on information currently
available to us, they may prove to be incorrect. Actual results may vary from such forward -
looking information for a variety of reasons, including but not limited to, risks and
uncertainties disclosed in other public Jourdan Resources filings, changes in general
economic, market and b usiness conditions, competition for, among other things, capital
and skilled personnel, and other unforeseen events or circumstances, that may cause the
actual financial results, performance or achievements of the Company to be materially
different from estimated future results, performance or achievements expressed or implied
by the forward-looking statements. Copies of the Company's public filings under applicable
Canadian securities laws are available at www.sedar.com. The Company further cautions
that information contained on, or accessible through, this website is current only as of the
date of filing such information and may be superseded by subsequent events or filings.
Other than as required by law, Jourdan Resources does not intend, and undertakes n o
obligation, to update any forward looking information to reflect, among other things, new
information or future events.
Although the Company believes many of its properties have promising potential, its
properties are in the early stages of exploration . None have yet been shown to contain
proven or probable mineral reserves. There can be no assurance that such reserves will
be identified on any property, or that, if identified, any mineralization may be economically
extracted.
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. Statements in this release that are not historic facts
are “forward-looking statements” and readers are cautioned that any such statements are
not guarantees of future performance, and that actual developments or results, may vary
materially from those in these “forward-looking statements.”